Axa Investment Managers has launched a smart beta fund that aims to capture equity market beta.
Managed by a team from Axa Rosenberg, the Axa IM SmartBeta Equity strategy is designed to avoid the limitations of market cap weighted indices and alternative schemes.
The strategy is designed to retain what is good about market capitalisation weightings, Axa says, but will reduce exposure to wealth destroying elements. Those include exposure to poorly compensated risks, poor diversification, failing to look towards the future and cost leakage.
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