Hardie replaces Balfour on Axa Japan team

Axa Investment Managers has confirmed the departure of Anja Balfour, manager of the Axa Framlington Japan fund.

The Japan fund will be managed by Chisako Hardie, with the support of Axa's global sector teams. Balfour joined Axa in 2004 from Bailie Gifford and left the group in mid-April. Axa Framlington's Japan fund made 19.9% over one year but is down 9.7% over three years. Hardie runs the Axa Framlington Japan Smaller Companies fund, which is up 39.6% over 12 months and up 3.4% over three years. A spokeswoman for Axa said the two retail funds have combined assets of £86m. She adds Balfour's departure was mutually agreed after a reorganisation of the Japan equities expertise.