Axa is the latest group to introduce a deferral period on its property vehicle. With immediate eff...
Axa is the latest group to introduce a deferral period on its property vehicle. With immediate effect, the group has introduced a six-month deferral period on the Axa Life Property and the Pension Property funds for all switches, surrenders and transfers out. This follows a fall in the assets under management in the funds after investors became averse to the market conditions, forcing the manager to complete sales on assets. Axa said it needed to apply the deferral period in order make sure all investors are treated fairly.
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