Axa mulls open-ended portfolio

Axa Investment Management is market-testing an open-ended structured product designed to give participation in stock market growth as well as protection from market downturns. The product, which has the working title of Ascend, is to offer flexibility of investment length and timing, a choice of 70%, 80% and 90% protection with varying return options as well as a 'crash cover' feature designed to safeguard capital in the event of a downturn. It will also feature a multiplier structure to boost asset exposure while locking away a portion of assets as a 'cushion' against market falls. T...