Axa Investment Managers Explained

Axa Investment Managers
Former Name:Axa Asset Management
Type:Subsidiary
Key People:Marco Morelli (Executive chairman)
Industry:Investment management
Products:Mutual Funds
ETFs
Quantitative funds
Real Estate
Structured Finance
Hedge Funds
Aum:€844 billion (December 2023)[1]
Num Employees:2,700 (December 2023)
Parent:Axa
Foundation:1997
Area Served:Worldwide
Num Locations:18
Location Country:Tour Majunga, La Défense, Puteaux, IDF, France

Axa Investment Managers (Axa IM) is a global investment management firm. It operates as the investment arm for Axa, a global insurance and reinsurance company.

History

In 1994, Axa created an investment management subsidiary under the name, Axa Asset Management.[2] It operated separately from the insurance business lines and was headed by Jean-Pierre Hellebuyck.[3]

In 1997, Henri de Castries launched AXA Investment Managers (Axa IM) which Axa Asset Management became a part of. Donald Brydon was selected to be its chief executive officer.[4]

In 1996, Dominique Senequier joined Axa and founded the Axa Private equity platform. It operated under Axa IM until 2013 where it was spun off as a separate firm and renamed Ardian.[5] [6]

During 1999, Axa IM paid US$125 million for a controlling stake in the Rosenberg Group, an active quantitative global equity manager based in California.[7] It was renamed to "Rosenberg Equities" which now operates as the quantitative investment platform under Axa IM. In the same year, AXA Real Estate Investment Managers was also established. It was eventually renamed to the "Real Assets" platform.[8]

In 2002, Axa IM set up its Structure Finance division.[9]

In 2005, Axa IM purchased the investment firm, Framlington Group from HSBC Holdings and Comerica for US$342.5 million.[10] It was renamed to "Framlington Equities" which now operates as a long term equity active management platform under Axa IM.

In 2006, Axa IM established a joint venture with Shanghai Pudong Development Bank. The resulting joint venture was AXA SPDB Investment Managers Co., Ltd, which is based in China.[11]

In 2008, Axa IM set up a joint venture with Kyobo Life Insurance Company. The resulting joint venture was Kyobo AXA Investment Managers, which is based in South Korea.[12] [13]

In 2012, Axa IM established two joint ventures with Bank of India. They were BOI AXA Investment Managers Private Limited and BOI AXA Trustee Services Private Limited, which are based in India.[14]

During 2016, Axa IM set up Chorus, a hedge fund platform. In the same year, the Real Assets division acquired Sydney-based, Eureka Funds Management to expand its real assets' operation in the Asia-Pacific region.[15]

Axa Investment registered as a crypto service provider in France in March 2023, avoiding disruption to their services.[16] Bloomberg reported in August 2023 that Axa Investment Managers would be laying off around 90 positions out of its 2,600 employees it had as of the end of 2022.[17]

In April 2024, Axa IM acquired W Capital Partners, a private equity firm specializing on GP-led and secondary investments.[18]

In July 2024, it was reported that there were talks to merge Axa IM and BNP Paribas Asset Management into a joint venture between Axa and BNP Paribas which would have €1.4 trillion ($1.5 trillion) in assets under management.[19]

Business overview

Axa IM has seven different investment platforms. They are:

At the end of March 2020, of Axa IM's AUM, around 40% was in Fixed Income, 29% Multi-Asset, 8% in Structured Finance, 12% in Real Assets and 7% in Equities.[20]

During 2020, Axa IM restructured its organization to create two main business units, Axa IM Alts and Axa IM Core.[21]

Axa IM Alts consists of the Real Assets, Structured Finance and Chorus investment platforms. At the end of 2020, it had €159 billion assets under management.[22]

Axa IM Core consists of the Framlington Equities, Rosenberg Equities, Fixed Income and Multi-Asset investment platforms. At the end of 2020, it had €559 billion assets under management.[22]

Axa IM has offices in 22 different country which cover Europe, Asia and North America.

Notes and References

  1. Web site: AXA Investment Managers AXA IM Corporate . 7 April 2024. https://web.archive.org/web/20240407131645/https://www.axa-im.com/ . 7 April 2024 .
  2. Web site: 27 April 2006. AXA Investment Managers: Growth in the fast lane. live. https://web.archive.org/web/20220120172246/https://axa-prod.s3.amazonaws.com/www-axa-com%2Faff9e20a-ed56-438f-802f-bf480d004dc0_20060427_axaim.pdf . 20 January 2022 .
  3. Web site: 7 March 1995. Le groupe Axa décidé à se développer dans la gestion pour compte de tiers. 3 March 2021. Les Echos. fr. 5 April 2023. https://web.archive.org/web/20230405171426/https://www.lesechos.fr/1995/03/le-groupe-axa-decide-a-se-developper-dans-la-gestion-pour-compte-de-tiers-852232. live.
  4. Web site: Waks. Fabienne. 2011. Generation AXA. live. AXA. https://web.archive.org/web/20220120171919/https://www-axa-com.cdn.axa-contento-118412.eu/www-axa-com%2F1eb913e8-8059-4730-ad8e-47845afa2968_axa_generation_axa_va.pdf . 20 January 2022 .
  5. Web site: Ardian. 3 March 2021. Strategist. en-US. 1 December 2022. https://web.archive.org/web/20221201134302/https://strategist.global/en/entreprises/ardian/. dead.
  6. Web site: 30 September 2013 . Ardian is new name for AXA private equity spinoff . 7 March 2023 . Pensions & Investments . en . 7 March 2023 . https://web.archive.org/web/20230307140439/https://www.pionline.com/article/20130930/ONLINE/130939988/ardian-is-new-name-for-axa-private-equity-spinoff . live .
  7. Web site: IPEDecember 1998. AXA takes control of Rosenberg. 3 March 2021. IPE. en.
  8. Web site: Isabelle Scemama appointed as CEO of AXA Investment Managers - Real Assets. realassets.axa-im.com.
  9. Web site: 20 years AXA INVESTMENT MANAGERS. 3 March 2021. communications.axa-im.com. 5 April 2023. https://web.archive.org/web/20230405171428/https://communications.axa-im.com/8Q08729/html_uk_740/index.html. live.
  10. Web site: 28 July 2005. AXA Investment Managers agreed to purchase Framlington Group for about.... 3 March 2021. Pensions & Investments. en. 4 May 2020. https://web.archive.org/web/20200504190916/https://www.pionline.com/article/20050728/ONLINE/507280703/axa-investment-managers-agreed-to-purchase-framlington-group-for-about. live.
  11. News: 28 August 2007. AXA China fund JV eyes 10 bln yuan fund by year-end. en. Reuters. 3 March 2021. 5 April 2023. https://web.archive.org/web/20230405171503/https://www.reuters.com/article/axa-china-fund-idUKSHA20655120070828. live.
  12. Web site: 4 June 2008. Kyobo, AXA Group to Set up Asset Management Firm. 3 March 2021. koreatimes. en. 5 April 2023. https://web.archive.org/web/20230405171426/http://www.koreatimes.co.kr/www/tech/2021/03/693_25350.html. live.
  13. News: 4 June 2008. AXA to buy 50 pct in S.Korea asset firm from Kyobo. en. Reuters. 3 March 2021. 5 April 2023. https://web.archive.org/web/20230405181124/https://www.reuters.com/article/kyobo-axa-idINSEO29722220080604. live.
  14. Web site: About Us. 3 March 2021. www.boiaxamf.com. 28 January 2021. https://web.archive.org/web/20210128072833/https://boiaxamf.com/about-us. live.
  15. Web site: 21 September 2016. AXA IM-Real Assets has its Eureka moment. 3 March 2021. Australian Financial Review. en. 5 April 2023. https://web.archive.org/web/20230405171426/https://www.afr.com/property/axa-imreal-assets-has-its-eureka-moment-20160921-grktby. live.
  16. News: Axa Investment registers as crypto service provider in France . Reuters . 8 March 2023 . 1 April 2024 . 5 December 2023 . https://web.archive.org/web/20231205161250/https://www.reuters.com/business/aerospace-defense/axa-investment-registers-crypto-service-provider-france-2023-03-08/ . live .
  17. News: Axa's Asset Management Unit to Cut up to 90 Roles in Revamp . Bloomberg . 21 August 2023 .
  18. Web site: Dorbian . Iris . 2024-04-03 . AXA IM to snap up PE firm W Capital Partners . 2024-04-07 . PE Hub . en-US . 7 April 2024 . https://web.archive.org/web/20240407133252/https://www.pehub.com/axa-im-to-snap-up-pe-firm-w-capital-partners/ . live .
  19. News: Foerster . Jan-Henrik . 2024-07-04 . Axa and BNP Paribas Said to Explore Asset Management Tie-Up . 2024-07-06 . Bloomberg.com . en.
  20. Web site: AXA Investment Managers – Investing and Building for Asia's Future -Asian Wealth Management and Asian Private Banking . www.hubbis.com . 3 March 2021 . 25 November 2020 . https://web.archive.org/web/20201125190544/https://hubbis.com/article/axa-investment-managers-investing-and-building-for-asia-s-future . live .
  21. Web site: Khullar. Arshiya. 11 March 2020. AXA IM restructures to create €137bn global alternative investment platform. 3 March 2021. Infrastructure Investor. en-US. 11 April 2021. https://web.archive.org/web/20210411070244/https://www.infrastructureinvestor.com/axa-im-restructures-to-create-e137bn-global-alternative-investment-platform/. live.
  22. Web site: Full-year 2021 earnings . 25 February 2021 . 13 March 2021 . https://web.archive.org/web/20210313061320/https://www.axa-im.com/content/-/asset_publisher/alpeXKk1gk2N/content/full-year-2020-earnings/23818 . live .

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