group says arrival of funds will encourage stronger performance with acceptable charges
Axa Investment Managers is predicting the arrival of mixed funds will allow the multi-manager industry to produce strong performance within an acceptable charging level. Russell Catley, sales director at the group, said funds of funds (Fofs) and manager of managers (Moms) each have disadvantages but being able to blend the two concepts in a single mixed portfolio should produce a best-of-breed product. Axa is looking to launch products with core holdings in manager mandates, allowing it to keep costs under control, while using funds as satellite holdings to provide flexibility and add to...
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