isle of man-based product offering revamped while minimum investment into premium select bond is reduced
Axa is adding a range of 25 of its best in-house funds from around the world to its offshore bonds aimed at intermediaries.
The funds to be offered cover a range of different investment categories such as fixed interest, multi-manager and income distribution products. It will include a selection of funds from Axa's World Funds range as well as Axa Rosenberg. For example, portfolios in the World Fund range to be added are the Emerging Europe Equity, the Talents Fund, Optimal Income Fund and the Europe Small Cap Equity Fund. They will be made available via its Premium Select and Evolution products.
At the same time Axa has launched a Portfolio Planner Tool, this covers funds within the Axa multi-manager range as well as third-party vehicles chosen by Old Broad Street Research.
This is designed to help intermediaries improve their asset allocation and fund selection on behalf of clients.
Mike Mumford, head of funds development at Axa, said: "The tool will help identify a client's asset allocation according to their needs. It will take into account such things as what type of income the client has, their attitude to risk and come up with a portfolio that suits them."
According to Mumford by allowing intermediaries constant access to the performance and risk classification of each client's investments, intermediaries can manage client expectations and provide the necessary audit trails required for compliance purposes. It also reduces administration time for the intermediary, he claimed.
The tool can be used to provide a complete sales process from fact find to fund selection and illustration, or intermediaries can select which part they wish to use. For example, they might just want to use the fund selection model or just use the tool to assess a client's risk.
Axa has also decided to drop the minimum investment on its Premium Select Bond from £40,000 to £25,000, following the launch of the service. According to Mumford, the fall in entry level is part of general trend in this area.
The group's market research has shown that intermediaries have found the demand for this type of service is wanted among a broader range of clients. All these changes are part of a move by Axa to introduce a wealth management offering, with the enhanced fund range and portfolio planner tool available to both onshore and offshore advisers.
Axa adding 25 inhouse funds to offshore bonds.
Minimum investment on Premium Select Bond now £25,000.
Revamped asset allocation and fund selection tools added by group.
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