Axa IM targets UK unconstrained market

Big BenAxa Investment Managers is to launch an unconstrained multi-cap UK equities fund in March.

Called the Axa World Funds Framlington UK fund, Chris St John, current manager of the AXA Framlington UK Mid Cap Fund, will be lead manager, supported by Nigel Thomas, lead manager of the firm’s UK Select Opportunities Fund.

Like other Axa UK equity funds, the fund will employ a bottom-up approach to stock analysis, but will maintain a structural bias towards mid-cap and small-cap companies relative to the FTSE All Share.

A Sicav fund, it will be Luxembourg-domiciled and registered for distribution in the UK, France, the Netherlands, Sweden, Finland, Norway, Denmark, Austria, Belgium, Germany, Italy, Switzerland and Spain.

St John said: “With a growing domestic economy and reinvigorated levels of corporate activity set to continue into 2016, there is a plethora of fast growing UK companies that are benefitting from these positive tailwinds.

“The unconstrained approach will give us the ability to invest across the UK equity market, in companies benefitting from global secular trends and those that should directly benefit, should economic growth outside of the UK accelerate.”

Axa’s UK equities division manages about €16 billion.

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