AXA Investment Managers has launched the AXA Investment Managers Collective Investment Trust (AXA IM CIT) as part of its ongoing effort to broaden the firm's offering to clients in the US.
The new US offering is an important component of the firm's regional strategy to provide innovative, low-cost investment solutions for defined contribution (DC) and defined benefit (DB) plans.
Within the AXA Investment Managers CIT, AXA IM is offering clients three strategies: AXA IM US High Yield Collective Investment Fund; AXA IM International Small Cap Equity Collective Investment Fund; and AXA IM US Small/Mid Cap Equity Collective Investment Fund.
AXA IM will serve as the investment adviser to all three funds, using the same US-based investment teams that manage AXA IM's existing offerings across multiple asset classes.
Global Trust Company, a Maine chartered bank with over USD29 billion in AUM, is trustee of the trust, and State Street Corporation is the trust's custodian, administrator and transfer agent.
Steve Sexeny (pictured), head of North America client group, says: "As part of AXA IM's efforts to offer customised solutions that address our clients' evolving needs in the US, we are pleased to launch these three initial investment strategies in asset classes where we have a proven track record of success. We have seen increased investor demand for CITs as a low-cost investment alternative for 401(k) and 457 plans, and therefore, we believe this is an opportune time for AXA IM to launch these new vehicles.
"The launch of the AXA IM CIT highlights our commitment to the US market and our ambition to continue growing AXA IM's presence in the region."