AXA Investment Managers is closing two of its bond funds launched more than a decade ago due to a lack of investor interest and insubstantial assets in the products.
The group will close its £35.4m Sterling Long Corporate Bond and £41.7m Sterling Long Gilt funds on 20 November. Both launched in 2004. A spokesperson for AXA IM said: "We continually review our fund offering to ensure [it is] in the best interests of investors and also match market demand. Having considered the size of the two funds in question we believe they are no longer economically sustainable. "We have considered client demand and believe we will not see a resurgence in demand for these funds. In addition, we anticipate that due to the size of the funds we will find it increasi...
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