UK - AXA has appointed fund manager Hermes to run a set of passive funds, which will be added to AXA's broader range of 43 actively managed underlying funds within its group pensions offering.
The seven passively managed funds, encompassing UK and international fixed income and equities, will be added later this year to enhance the investment choice available to AXA’s clients.
There will be a total of 50 funds available from AXA of which 30 are managed internally by AXA Investment Managers.
“Hermes was appointed following a detailed review and an in depth-presentation process. The successful manager won the mandate on the strength of its performance record; its complete alignment with UK pension funds through its unique ownership structure, corporate governance policy; its cost proposition; and the quality of its client service,” AXA said in a statement.
Steve Folkard, AXA’s head of pensions marketing said: “The appointment of a passive manager underlines our commitment to offering best practice standards. It’s vital that employees are provided with a broad fund choice spanning active and passive propositions.
“We continually review our choice of funds and this strategy reflects our company’s commitment to provide a market-leading group pension proposition.”
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