Robert Price, a portfolio manager at Axa Investment Managers, has switched roles within the firm to focus on ‘cash-flow delivery’ investing (CDI) after the firm saw large inflows.
Price is an existing member of the solutions management team but has become portfolio manager in the buy-and-maintain fixed income team.
He is responsible for managing credit portfolios but with a renewed focus on CDI.
Axa IM said it had bolstered the team with Price’s hire after reaching £3 billion of assets in the strategy.
The money was raised this year and the strategy is sold mainly at pension funds that face cash-flow challenges.
Lionel Pernias, head of buy and maintain in London, said: “As pension schemes become more focused on cash-flow delivery, we continue to see growth and demand from providers on buy-and-maintain credit strategies.”
Price has also been a member of Axa IM’s liability-driven investing (LDI) team working with pension schemes and consultants and will continue to work with those UK clients and remain part of the consolidated European LDI team.
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