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Axa Investment Managers' fund of hedge funds assets soar past USD5bn

Axa Investment Managers has announced that its fund of hedge funds assets have reached USD 5.7billion, with the business, which is run by a team of 28, attracting considerable inflows despite the turbulent economic climate.

Axa, which says demand has remained particularly strong from institutional investors, reports that the funds that have benefited most from recent inflows include its flagship Axa Alternative Premium Fund.

The firm says the inflows allow the fund of hedge funds business to be nimble in its portfolio allocation and to ensure that the funds are protected on the downside while remaining positioned to benefit from opportunities in the market.

Axa Investment Managers says investors also continue to benefit from its stable investment base of insurance capital from the Axa Group, which allows the fund of hedge funds team to access a wide range of best of breed hedge fund managers.

'Despite the world economy facing a number of issues, with global banks heavily affected by their mortgage and credit exposure, US house prices in steep decline and inflation creeping up across the board, particularly in emerging markets, there are still good opportunities within the hedge funds sector,' says global head of funds of hedge funds Christoph Manser. 'Our current liquidity enables us to seek out strategies that can take advantage of higher volatility and higher dispersion.'

Axa Investment Managers, part of the Axa insurance and wealth management group, had around EUR527bn in assets under management at the end of March and employs more than 3,000 people in 21 countries.

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