Axa Investment Managers has appointed a global head of smart beta, amid increased interest in the asset class.
William Healey joins from JP Morgan Asset Management, where he was head of European high yield debt for three years, and replaces Mark Benstead.
In addition, Healey was appointed UK head of "buy and maintain" strategies.
Benstead has joined Legal & General Investment Management credit team as a senior portfolio manager.
Meanwhile, Philip Roantree joins the fixed income team as senior portfolio manager from Morningstar, where he was a fund analyst covering fixed income and absolute return funds.
Roantree replaces Ian Bates, who joined Neuberger Berman as senior vice president, European high yield.
Chris Iggo, chief investment officer and head of Europe and Asia, fixed income, says these buy and maintain strategies focus on long-term value creation with limited turnover.
"We are seeing increased demand from clients for such strategies, in part as a result of higher transaction costs," Iggo adds.
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