Trouble for Architas target-date funds sees promoter exit

The Architas BirthStar Target Date funds were a joint venture between fund managers AllianceBernstein and Architas as the authorised corporate director, both part of the Axa Group, and Birthstar, which developed the range and was in charge of promotion. But Birthstar has been dropped by AllianceBernstein, leaving the funds without any active sales strategy, though they remain live and actively managed on all major fund platforms. People close to the situation said poor sales led to the break down of the relationship, due to a lack of interest from advisers in a range aimed at very low...