Paris-headquartered investment firm AXA IM has announced that Jim Stride will retire in June 2017 after 33 years managing the AXA Distribution fund and 41 years in asset management.
Over Stride’s 33-year track record managing the AXA Distribution fund, the strategy yielded an annualised compound return of 8.22%.
Jamie Forbes-Wilson and Matthew Huddart will now co-manage the entire AXA Distribution fund range. Both have been co-managers on the Distribution range with Stride since February 2016.
They will continue to be part of the AXA IM Framlington Equities UK desk overseen by George Luckraft.
Commenting on his forthcoming retirement, Stride, who joined AXA in 1981, said: “I have enjoyed my time with the company immensely managing these long-standing funds. They have a clearly defined and diversified investment strategy, primarily combining equities with inflation-linked bonds, that focuses on reducing volatility over time, as well as delivering a sustainable income stream.
“This tried and tested strategy is very well suited for cautious investors looking to invest for the long-term, especially in volatile markets. This has been demonstrated through the 1987 crash, the 2001 attack on the World Trade Centre, post Lehman‘s collapse and the through the global financial crisis, where the AXA Distribution funds have performed solidly for clients. Even looking to the events of last year with the unexpected Brexit decision and election of Trump, the fund remained resilient.
“With Brexit uncertainty prevailing, as well as expectations of rising inflation, I am more convinced than ever that these kinds of funds can provide satisfactory returns and sustained income payments over the long term and I am confident that with Jamie and Matthew at the helm the Distribution range should continue to generate consistent returns for our clients.”
Mark Beveridge, Global Head of AXA IM Framlington Equities, said: “Jim will be missed and we would all like to thank him for his extraordinary commitment to the unit holders of the flagship AXA Distribution strategy. We wish him all the very best in retirement.
“Jamie and Matthew have a strong working relationship and extensive experience in equity income investing having worked with Jim Stride and the Framlington UK equities team for the last 15 years. We are delighted they will continue to manage this long standing Distribution franchise together.”