Assirt gives thumbs up to AXA
Assirt has given the thumbs up to AXA’s funds management business in its first research findings since AXA signed the joint venture with Alliance Capital Management in October last year.
Assirt says AXA is particulalrly strong in Australian fixed interest, mortgages and cash while its Australian equities, international equities and international fixed interest are rated strong. The only area it was marked weak was in listed property.
Ten of AXA’s 30 funds have been rated with the highest five star rating, 14 were rated with four stars, while the remaing five funds scored three or less stars.
Last year, AXA outsourced its investment management to Alliance Capital Management, a group in which it also has a 50 per cent stake. Since the joint venture, Assirt says AXA has improved its standing in its international equities, while the Alliance Capital move should improve the perception of the AXA funds in the marketplace, which a spokesperson for AXA says tended to be “poorly sold”.
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