Axa relinquishes control of EasyETF

Axa Investment Managers has decided to end its four-year-old ETF partnership with BNP Paribas Asset Management, transferring the operational management of the 22 EasyETF products it runs to BNPP. Once the move is complete, EasyETF will be managed solely by the index tracking, structured products and risk allocation department of BNPP AM, Sigma. The transaction should be concluded before the end of 2009, following approval from regulatory authorities in France and Luxembourg. Denis Panel, head of Sigma, says: "BNP Paribas Group firmly believes in the development potential of the ...