AXA IM scraps global equity income fund
AXA Investment Managers (AXA IM) has liquidated the AXA World Funds – Global Equity Income fund last 19 June, InvestmentEurope has learned.
This comes after the largest shareholder of the fund demanded to redeem its investment from the fund. The board of the AXA World Funds Sicav considered that the sub-fund “could no longer be operated in an economically efficient manner” therefore decided to close it.
The fund had been launched at the end of August 2011 and was run by Gideon Smith and Cameron Gray from AXA IM Rosenberg Equities.
It had $17.15m (€14.56m) of assets under management at the time of its merger on 19 June 2018.