Axa skews new multi-manager towards Asia

Axa Investment Managers chief investment officer Robert Wilson says there is an Asian bias to the internationally invested Axa Select Active Portfolio, one of two new vehicles recently added to the group’s multi-manager range.
Wilson says the fund – which is aimed towards medium to long-term investors willing to take average risks and seeking growth from their capital – will take advantage of stronger economic growth in countries such as India and China.
The fund also has exposure to the US and Europe. Wilson says: “The markets have maybe got a little bit ahead of themselves in the short term, but in the long term there are reasonable opportunities there.”
The portfolio can invest either directly in existing funds, like a fund of funds, or follow the manager of managers model and allocate mandates for each part of the portfolio to separate managers. Up to 15% of the portfolio can be held in cash or fixed interest. At the moment, the fund holds no cash or fixed interest, and around 50% in the portfolio is invested in the UK.
The other new multi-manager product is the Axa Select Higher Income Portfolio, which will have between seven and eight holdings. Both portfolios are now available alongside two other multi-manager vehicles in the Axa Select range.