Axa Investment Managers has launched a global credit bond fund, which invests in a portfolio diversified across three broad sectors, five geographical regions and at least 200 individual issuers.
In a statement, the asset manager says its Axa WF Global SmartBeta Credit Bonds has been designed for institutional investors seeking low-cost global credit exposure, without the drawbacks of passive issuance-based index tracking strategies.
Damien Maisonniac in Paris and Lionel Pernias in London jointly manage the fund. They say it adopts a buy-and-maintain strategy and seeks to minimise turnover.
Contrary to index tracking, the duo says its smart beta strategy “takes a pragmatic approach to portfolio construction”, which means the fund is better protected against systemic and event risks.
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