Axa Framlington veteran to retire

Richard PeirsonRichard Peirson, co-lead manager of Axa Framlington’s £955 million (€1.2 billion) Managed Balanced fund, will retire in March next year after 23 years with the firm.

Jamie Hooper has been promoted to co-lead manager of the fund and will eventually take over the management of Peirson’s fund. Management of the fixed income portions of the fund has been passed to Nick Hayes.

Peirson joined Axa Framlington in March 1994, and has run a number of funds and unit trusts during his tenure.

Mark Beveridge, global head of equities at Axa IM hailed Peirson’s 20-year track record of consistent outperformance. The fund has returned 13.7% over the three years to May 12, according to FE Trustnet data; in the same period, the IA Mixed Investment sector has returned an average of 10.4%.

AXA Framlington manages assets of around €200 billion.

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