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Special Report

Impact investing


Axa transfers e5.6bn to Axa Rosenberg

UK- AXA IM will transfer approximately £3.5bn (e5.6bn) of its Continental Europe and global equity mandates to its specialist global equity affiliate, AXA Rosenberg, following a strategic review.

In the UK, AXA IM has assets under management of around £47bn (e75bn) and UK equities and fixed income have been identified as AXA IM’s core product strengths.

The transfer of the Continental Europe and global equity mandates to Rosenberg is designed to allow AXA IM to focus more on these core products. For AXA Rosenberg, which manages around £9bn (e14bn) in assets worldwide, the transfer will increase asset under management by almost 40%.

The transfer of the £3.5bn, which is managed on the behalf of UK clients, essentially takes the form of a number of sub-advisory mandates, whereby AXA IM will retain their client relationships and AXA Rosenberg will act as a sub-advisor. The transfers are subject to client approval.

The transfer is expected to take place during the first six months of 2003. The issue of whether staff will be moved from AXA IM to Rosenberg is still unclear.

AXA IM has already transferred a number of specialist US, Japanese and Asian mandates to AXA Rosenberg.

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