AXA Investment Managers Launches New Funds to Meet Demand from Defined Contribution Plans
GREENWICH, Conn., Sept. 28, 2016 /PRNewswire/ -- AXA Investment Managers (AXA IM), an active, long-term global multi-asset manager, announced today the formation of the AXA Investment Managers Collective Investment Trust (AXA IM CIT) as part of its ongoing effort to broaden the firm's offering to clients in the U.S. The new U.S. offering is an important component of the firm's regional strategy to provide innovative, low-cost investment solutions for Defined Contribution (DC) and Defined Benefit (DB) plans. The launch of this new offering also emphasizes the strategic importance of the U.S. investment market for AXA IM as a global asset manager.
Within the AXA Investment Managers CIT, AXA IM is offering clients three timely strategies:
- AXA IM U.S. High Yield Collective Investment Fund;
- AXA IM International Small Cap Equity Collective Investment Fund; and
- AXA IM U.S. Small/Mid Cap Equity Collective Investment Fund.
AXA IM will serve as the Investment Advisor to all three funds, utilizing the same dedicated, U.S.-based investment teams that manage AXA IM's existing offerings across multiple asset classes. Global Trust Company, a Maine chartered bank with over $29 billion in AUM, is Trustee of the Trust, and State Street Corporation is the Trust's Custodian, Administrator and Transfer Agent.
Steve Sexeny, Head of North America Client Group, said: "As part of AXA IM's efforts to offer customized solutions that address our clients' evolving needs in the U.S., we are pleased to launch these three initial investment strategies in asset classes where we have a proven track record of success. We have seen increased investor demand for CITs as a low-cost investment alternative for 401(k) and 457 plans, and therefore, we believe this is an opportune time for AXA IM to launch these new vehicles.
"The launch of the AXA IM CIT highlights our commitment to the U.S. market and our ambition to continue growing AXA IM's presence in the region."
Many U.S. investors have shown increased interest in Collective Investment Trusts as an investment vehicle that provides the daily liquidity of a mutual fund, the low expenses of a managed account, and the operational simplicity of a commingled fund. By leveraging AXA IM's existing investment, risk, compliance and operational expertise, in addition to its global partnership with State Street Corporation, the AXA IM CIT will allow plan sponsors to offer diversified, low-expense investment options for the benefit of their plan participants.
Media Contacts
Sangita Blomberg +1 203 983 4238 - [email protected]
Edelman for AXA IM +1 212 729 2166 – [email protected]
About AXA Investment Managers
AXA Investment Managers is an active, long-term, global, multi-asset investor focused on enabling more people to harness the power of investing to meeting their financial goals. By combining investment insight and innovation with robust risk monitoring, we have become one of the largest asset managers in Europe with ambitions to become the chosen investment partner of investors around the world. With approximately $755bn in assets under management as of the end of June 2016, AXA IM employs over 2,350 people around the world and operates out of 29 offices in 21 countries. AXA IM is part of the AXA Group, a global leader in financial protection and wealth management.
Visit our website: www.axa-im.com
Follow us on Twitter @AXAIM
AXA Investment Managers, through its U.S. affiliates, are regulated by the Securities and Exchange Commission. This document is provided for informational purposes only and is not authorized for retail distribution. Nothing herein is or should be construed as an offer to enter into any contract, investment advice, a recommendation of any kind, a solicitation of investors, or an offer to sell or to invest in any particular fund, product, investment vehicle or derivative. The information contained herein may not be complete, may not be current, and is subject to change at any time. AXA Investment Managers is under no obligation to update such information.
Investing involves risk and past performance does not guarantee future results. Fixed income securities are subject to interest rate risk, credit risk, prepayment risk and market risk. High yield securities are subject to a greater risk of loss of principal and interests than higher-rated, investment grade fixed income securities. No assurance can be given that the strategy will be successful or achieve its objectives. Information may be provided for reference only and does not represent the experience of the strategy/fund nor is it intended as a representation or warranty by AXA IM, Inc. or any other persons or entity as to the actual composition of or performance of any future investment.
The Adviser is not a tax or legal advisor. Prospective investors should consult their tax and/or legal advisors before making tax-related and/or legal-related investment decisions. CORP-2150
SOURCE AXA Investment Managers
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