The Asset Management Exchange (‘AMX’), an institutional platform for investors and asset managers, today announces that AXA Investment Managers (AXA IM) has joined the AMX platform by adding a Long Term Credit Fund with over $1bn in assets in the fund.
The fund uses AXA IM’s ‘Buy and Maintain’ capability to build a well-diversified, benchmark-agnostic, long-dated credit portfolio that delivers predictable cash flows. The Buy and Maintain approach aims to drastically reduce transaction costs, and more importantly prevent the schemes becoming a forced seller during a market sell off.
Oliver Jaegemann, CEO of AMX, said: “In today’s environment pension funds want to ensure that their portfolio is suited to the current market conditions and that it also reflects the outcomes that they seek. Pressure on cost transparency is driving pension funds to review the value they are generating in exchange for the total costs they are paying.
“‘Buy and maintain’ approaches are more cost effective for many schemes, generating lower transaction costs and offering fees that are lower than active management. Implementing this via AMX can be even more cost effective by lowering total costs compared to higher trading-volume approaches.”
Sebastien Proffit, Head of Portfolio Solutions, Fixed Income at AXA Investment Managers, said: “Over the last two years we have seen large schemes implementing segregated mandate to meet the cashflow negativity challenge. We are now please to launch the Long Term Credit Fund on the AMX platform in order to provide schemes of all size with the certainty they need to deliver on their long-term objectives.”
Notes to editors
AMX centralises, standardises and streamlines the process of investing by making implementation and monitoring more efficient through:
- Reduced duplication of cost, resource and time
- Economies of scale in relationships with other service providers, such as market counterparties, custodians, clearers and prime brokers
- Standardised legal documentation
- Timelier and more accurate reporting through centralised data
- Reduced complexity via standardised infrastructure and a centralised back office.
AMX secures better pricing because of the buying power of the exchange by centralising operating costs, such as custody and administration at the exchange, thereby lowering operating expenses.
AMX also offers enhanced control for investors via an independent risk oversight function and single portfolio interface to centralise and standardise compliance, minimising distractions from the core investment function while providing greater investor confidence.
About The Asset Management Exchange
The Asset Management Exchange (“AMX”) is an institutional platform that gives investors and asset managers a way to do business with each other. Built with a fund infrastructure that’s designed for the needs of institutional investors, AMX standardises, centralises and streamlines the entire process of investing so it works better for everyone.
Established by Willis Towers Watson in 2017, AMX negotiates with managers, transitions assets, provides reporting and adds an extra layer of oversight. The platform is open to all investors and managers across the investment industry.
About AXA Investment Managers
AXA Investment Managers (AXA IM) is an active, long-term, global multi-asset investor. We work with clients today to provide the solutions they need to help build a better tomorrow for their investments, while creating a positive change for the world in which we all live. With approximately €757 billion in assets under management as at end of June 2019, AXA IM employs over 2,350 employees around the world and operates out of 30 offices across 21 countries. AXA IM is part of the AXA Group, a world leader in financial protection and wealth management.
Visit their website: www.axa-im.com
Sam Horril, Media Relations, Willis Towers Watson: email or +44 20 3124 6087