AXA global growth fund rating unaffected by restructure
AXA’s decision to restructure its growth portfolio research teams under a single team of sector heads will not affect its rating, according to Standard & Poor’s (S&P).
The AXA Wholesale Global Equity Growth Fund was downgraded to three stars on 22 March due to concerns about senior staff instability, said S&P Funds Services analyst John Huynh.
Since team instability was taken into account at the time of the March review, today’s announcement by AXA has not had any further effect on S&P’s conviction or rating of the fund, he said.
However, Huynh said that although he did not expect the restructure to have a significant effect, the change to the investment decision-making structure could lead to an increase in portfolio turnover in the near term.
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
