AXA IM shifts to single pricing on Framlington funds

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AXA Investment Managers is to move away from dual pricing on its Framlington range of equity funds in order to protect existing investors.

As of 8 September, the group will begin shifting the Framlington funds from bid/offer pricing to swing pricing, which seeks to minimise the impact of large inflows or outflows within funds. The switch will mean investors will pay a single price when either purchasing or redeeming shares, as opposed to the current system of paying an offer price when purchasing shares or a bid price when redeeming. Rob Bailey, head of distribution at AXA IM, said the move will help provide a "clear and understandable" set of practices to clients. The Framlington range includes Nigel Thomas' (picture...

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