The Framlington Equities arm of Axa Investment Managers has adopted ageing, cleantech and the automation of jobs into its stock analysis.
The division of Axa IM has added five themes to its internal equity research in total, which it says will better align research with long-term economic themes.
Mark Beveridge, global head of Framlington Equities at Axa IM, said: “Equity investment is changing. While globalisation has made geographical listing less relevant for investors, sector definitions have also not evolved over time; the reality is that markets and companies have.”
Companies are increasingly multi-sector businesses, Beveridge said, and traditional sector definitions do not apply any longer.
“For example how do you classify companies like Amazon; is it a cloud company, logistics firm, e-commerce or an organic food retailer?”
The five main themes that Framlington Equities has adopted are:
- Ageing and Lifestyle: led by Dani Saurymper, focuses on the consequences and opportunities of extended life expectancy;
- Connected Consumer: led by Jeremy Gleeson, covers the e-commerce value chain and digital transformation;
- Automation: led by Tom Riley encompassing applications of robotics and automation across a variety of industries;
- CleanTech: led by Amanda O’Toole and covers low-carbon economy solutions and sustainable resources management;
- Transitioning Societies: led by Anne Tolmunen and focusing on economic inclusion and changing consumption patterns in developed and, mainly, emerging markets;
“We are convinced that the themes we have identified will accelerate over the next decade and believe investors have to adapt,” said Beveridge.
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