AXA given a tick by Assirt

AXA/axa-asia-pacific/property/mortgage/research-house/

10 October 2002
| By Ben Abbott |

The management, sector performance and funds ofAXA Funds Managementhave been given a strong rating byAssirt.

The research house claims AXA Asia Pacific Holdings (AXA) Group Chief Executive Les Owen has successfully redirected AXA’s structure from an old style mutual life company toward a financial product distribution and wealth management operation.

The international equities (value), Australian fixed interest and mortgages sectors were all given a “very strong” rating by Assirt, though the asset allocation and listed property trusts sectors were only given a “competent” rating.

All AXA funds that have been rated by Assirt have been awarded a rating of investment grade or higher, with both retail and wholesale versions of the mortgage fund offerings being stand-out performers after they were awarded “five stars”.

Assirt considers the funds management joint venture with Alliance Capital Management Australia as a key factor in AXA’s success, as it enables AXA to concentrate on retail and mezzanine marketing and gives it access to global research resources.

The research house rating was derived from the analysis of the domestic capabilities of Alliance Capital Management Australia Limited, as well as and AXA’s Australian Mortgage Management capability. It also looked at areas of international capability within Alliance Capital Management L.P., Bernstein and AXA Investment Managers.

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