Three for AXA in international
AXA has launched a third international fund into the Australian market, this time managed by subsidiary Rosenberg.
Rosenberg is a ‘core’ manager and the new fund will sit between the growth and value international funds already on offer in Australia by AXA though partners Alliance Capital and Alliance Bernstein.
AXA head of investments Elizabeth Foley admitted the group thought hard about launching another international equity fund into a crowded Australian marketplace.
“Rosenberg has a different process to our other international mangers so there was a demand for this style and we had the manager,” she said.
“The ‘core’ space has been the sole preserve of the index managers but we are now offering a totally different style in that space.”
Rosenberg monitors 17,500 companies worldwide and holds between 200 to 500 stocks. This compares to the index which is about 1600 global stocks.
The investment style is described as active and bottom-up.
Foley said the aim of the fund is to give a 4.4 per cent return above the MSCI index.
“If the manager is achieving that sort of Alpha, that is why it is interesting to investors,” she said.
“We see the Rosenberg fund as complementary to our existing offerings as we now offer three main styles of investing.”
The new fund will be targeted against style neutral funds offered by groups like Wellington and UBS Global Asset Management.
The Rosenberg Wholesale Global Equity fund has a minimum investment of $25,000 and will be offered through platforms for retail investors.
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.
