Axa plans corporate bond Oeic launch

Axa is to launch an international corporate bond Oeic later this month offering a yield of around 8.9%, writes Leo Bland. The fund, to be called Axa Global High Income and which is being launched on 15 January, will be managed by Karim Flitti, who works in both Paris and London for Axa. He will manage the fund as part of a four-strong investment team which is based in Paris focusing on the high yield corporate bond market. The Oeic will invest in corporate bonds with credit ratings ranging from BB down to B+. Around two thirds of the assets will be in euro-denominated debt hedged back int...