Axa plans onshore version of $4.1bn US high yield fund

Axa IM is planning to launch an onshore version of its $4.1bn US Short Duration High Yield fund.

Subject to UK regulatory approval, the new fund is expected to launch in May and be run by Anne Yobage, a senior portfolio manager at Axa IM in Connecticut. She will be supported by Axa IM's 18-member team, which runs more than $38.8bn under head of fixed income Hannah Strasse. The offshore Luxembourg-domiciled fund, which launched in April 2004, has returned 14.77% over three years and 27.34% over five years. US Short Duration High Yield invests in high yield securities with an expected maturity of three years or less. "With interest rates still at historic lows, the inevitabil...