AXA appoints BGI for trackers

The move follows a decision by Hermes to pull out of the management of passive index tracking funds from November 30. The change has affected approximately 9,000 plans, with each plan transferring from Hermes to the equivalent BGI funds on 21 November. Plan holders can switch at any time after the changeover for no additional charge. Changes include the Hermes UK Index Tracker, which becomes BGI UK Equity Index Tracker, the Hermes Europe (ex-UK) Index Tracker, which becomes BGI European Equity Index Tracker, and the Hermes North America Index Tracker, which becomes BGI US Equity Index Tr...