AXA IM celebrates 5 years of Sterling LTC fund raising £2 billion
- 04 March 2025
- £3bn raised across the long-term credit strategy
- AXA IM has raised £11bn in cashflow driven strategies with roughly £350m pensions paid
- Global third-party B&M assets under management has reached £32bn
AXA Investment Managers (AXA IM) has raised £2 billion in assets for its multi-client Sterling Long Term Credit (LTC) fund, since launch in 2019, which is hosted by Carne Group. This brings the total global third-party asset under management for AXA IM’s Buy & Maintain team to £32 billion1 .
The LTC fund is a well-diversified, benchmark-agnostic, long-dated credit portfolio that aims to deliver consistent cash-flows for pension schemes. The Buy & Maintain approach drastically reduces transaction costs, and more importantly prevents schemes becoming a forced seller during a market sell off. In addition, the Fund incorporates sustainability criteria in its credit selection to ensure alignment with underlying sustainability commitments of UK pension schemes.
Lionel Pernias, Head of Fixed Income Investment Solutions, said:
“Delivering what we said on the tin is hard work. With 36 clients invested, £352 million of income distributed, and zero defaults, we are very proud to say we have done just that. The strategy has navigated multiple crises (Covid-19, the war in Ukraine etc.) in its five year history and has delivered on its cashflow promises each month. Furthermore, we have been able to support four clients in closing a bulk purchase transaction so far – highlighting that sterling long-term credit can work for any defined-benefit scheme’s end game strategy.”
Herschel Pant, Head of Global Consultants Partnerships, added:
“The ongoing success of the Sterling LTC fund has led to increased demand from across Europe, so earlier this year we launched a Euro version of the same strategy with roughly €150 million funded by various pension schemes. We look forward to partnering with European pension schemes like we have done in the UK and helping them achieve their ultimate goal of paying their pensions.”
Capital at risk: The value of investments may fall as well as rise and you may not get back the full amount invested.
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Notes to editors
About AXA Investment Managers
AXA Investment Managers (AXA IM) is a leading global asset manager offering a diverse range of global investment opportunities in both alternative and traditional asset classes. Through our products we aim to diversify and grow portfolios, while delivering long-term investment performance and value for clients.
AXA IM manages approximately €869 billion in assets*, and has €480 billion of ESG-integrated, sustainable or impact assets**. Our purpose is to act for human progress by investing for what matters. As a responsible asset manager, we are committed to integrating ESG principles across our business, from stock selection to our corporate actions and culture.
Part of the AXA Group, a worldwide leader in insurance and asset management, AXA IM employs over 2,800 employees and operates from 23 offices in 18 countries globally**.
*As at the end of September 2024, including non-consolidated entities.
** As at the end of December 2023.
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About Carne Group
Carne Group takes care of the people who take care of money. Founded in 2004, today Carne is Europe’s largest – and only independent – third-party management company. We support asset managers through every element of the fund lifecycle, including risk, compliance, due diligence, oversight, distribution and governance. Backed by digital capabilities and infrastructure built over two decades, our dedicated and expert team provides peace of mind for our clients and their investors, simplifying and strengthening the ways their funds operate.
We partner with around 650 clients, from boutique firms to the majority of the world’s 20 largest fund managers – supporting funds distributed in over 160 countries and overseeing more than US$2 trillion assets under management. Carne employs more than 600 employees across eight locations globally.
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Disclaimer
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Due to its simplification, this document is partial and opinions, estimates and forecasts herein are subjective and subject to change without notice. There is no guarantee forecasts made will come to pass. Data, figures, declarations, analysis, predictions and other information in this document is provided based on our state of knowledge at the time of creation of this document. Whilst every care is taken, no representation or warranty (including liability towards third parties), express or implied, is made as to the accuracy, reliability or completeness of the information contained herein. Reliance upon information in this material is at the sole discretion of the recipient. This material does not contain sufficient information to support an investment decision.
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The products or strategies discussed in this document may not be registered nor available in your jurisdiction. Please check the countries of registration with the asset manager, or on the web site https://www.axa-im.com/en/registration-map, where a fund registration map is available. In particular units of the funds may not be offered, sold or delivered to U.S. Persons within the meaning of Regulation S of the U.S. Securities Act of 1933. The tax treatment relating to the holding, acquisition or disposal of shares or units in the fund depends on each investor’s tax status or treatment and may be subject to change. Any potential investor is strongly encouraged to seek advice from its own tax advisors.
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Risk Warning
The value of investments, and the income from them, can fall as well as rise and investors may not get back the amount originally invested.