Next Capital fund from Axa

structured

second capital protected vehicle to launch with six-year term and 100% capital protection

Axa Investment Managers is planning the second in the series of its Capital Protected fund. With a six-year term and 100% capital protection at maturity, after an initial sales charge of 3%, the fund carries an annual management charge (AMC) of 1.2%. The performance of the Oeic is linked to the FTSE 100, as Axa finds investors relate better to products that utilise mainstream indices. According to the group, the higher commissions sometimes offered to sell poor products have put investors off structured investments. Referring to the precipice bond scandal, Simon Ellis, head of Axa Multim...