AXA IM to launch multi-cap UK equities fund

AXA IM has announced it will launch an unconstrained multi-cap UK equities fund, the AXA World Funds Framlington UK fund, on 2 March 2016.

The fund is to be be managed by Chris St John.

It will rely on an unconstrained multi-cap approach but AXA specified the fund will have a structural bias to mid-cap and small cap companies relative to the FTSE All Share.

The fund manager will seek to identify undervalued growth opportunities, using the proven bottom-up, high conviction stock selection process.

St John will still run the AXA Framlington UK Mid Cap fund and will be supported by experienced fund manager Nigel Thomas.

The Luxembourg-domiciled Sicav will, in addition to the UK, be registered for distribution in the following countries : France, the Netherlands, Sweden, Finland, Norway, Denmark, Austria, Belgium, Germany, Italy, Switzerland and Spain.

Chris St John, lead manager of the AXA WF Framlington UK fund, commented : “Having been involved in UK mid and small cap funds for the past 16 years, I have enjoyed particular success in the fertile ground of the FTSE 250, small cap and AIM markets.

“Whilst I remain committed to managing the AXA Framlington UK Mid Cap fund, taking an unconstrained multi-cap approach with this new strategy will allow us to offer clients our expertise in UK equities, perhaps appealing to those who wish to diversify away from the benchmark.

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

“In addition, 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.”

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