Axa closes UK tracker fund

Axa Investment Management has decided to close its Axa UK Tracker fund as part of the group’s focus on active management.

The day-to-day management of the £65m fund was outsourced to Barclays Global Investors (BGI) in 1999, before it was acquired by BlackRock in June 2009.

A spokesperson says: “AXA IM is committed to active fund management and so the AXA UK Tracker fund had not been a core part of AXA IM’s offering for some time. The fund was closed on 29 February 2012.” (article continues below)

“The fund was relatively small for a tracker fund – approximately £65m at time of closure – and was owned predominately by institutional investors with only a small number of retail clients.”