Axa makes retail bond debut

fund to be overweight AAA and BBB investment-grade bonds and managed by neil sutherland

Axa Investment Managers has launched a UK Corporate Bond fund that will be overweight in AAA and BBB investment-grade bonds. Neil Sutherland, who runs the fixed income portion of the group's Extra Income portfolio and the institutional AA Corporate Bond fund, will manage UK Corporate Bond. The offering will be predominantly invested in sterling bonds, said Sutherland, but it can also hold euro and dollar bonds. If these are included, they would be hedged back into sterling, he added. With valuations in A and AA credit looking stretched at present, Sutherland sees more potential from BBB ...