Axa Investment Managers' Structured Asset Management division (SAM) has launched a convertible arbit...
Axa Investment Managers' Structured Asset Management division (SAM) has launched a convertible arbitrage fund in Dublin.
Investment Week's sister paper Hedge Funds Review has learned the group plans a high profile launch of the fund, Axa Vega, early this year.
Its principal software supplier, Paris-based Sophis, announced the launch in a release describing a deal between the two firms.
An Axa spokesperson played down the release, adding Axa Vega has already begun trading, albeit with seed capital only.
Sophis' software will cater for all of the fund's front and middle-office activities. Olivier De Lamotte, head of convertibles at Axa Investment Managers, said plans are under way to extend the technology to all of SAM's businesses by the end of the first quarter 2003, including index and structured funds and credit arbitrage.
'We needed sophisticated tools to comply with increasing demands from investors and regulators,' he said. 'When we started working with Sophis, we were looking for a reliable and secure system that would enable us to centralise all our data in an application providing a single database.'
Despite improved risk appetite
FOS award limit increase
Relates to 136 million transaction reports
Ceremony will take place 13 November