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Axa Investment Managers

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Axa Investment Managers (Axa IM) is a global investment management firm. It operates as the investment arm for Axa, a global insurance and reinsurance company.

Axa Investment Managers
FormerlyAxa Asset Management
Company typeSubsidiary
IndustryInvestment management
Founded1997; 27 years ago (1997)
Headquarters
Tour Majunga, La Défense, Puteaux, IDF
,
France
Number of locations
18
Area served
Worldwide
Key people
Marco Morelli (executive chairman)
ProductsMutual Funds
ETFs
Quantitative funds
Real Estate
Structured Finance
Hedge Funds
AUM€844 billion (December 2023)[1]
Number of employees
2,700 (December 2023)[1]
ParentAxa
Websitewww.axa-im.com

History

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In 1994, Axa created an investment management subsidiary under the name, Axa Asset Management.[2] It operated separately from the insurance business lines and was headed by Jean-Pierre Hellebuyck.[3]

In 1997, Henri de Castries launched AXA Investment Managers (Axa IM) which Axa Asset Management became a part of.[4] Donald Brydon was selected to be its chief executive officer.[5]

In 1996, Dominique Senequier joined Axa and founded the Axa Private equity platform. It operated under Axa IM until 2013 where it was spun off as a separate firm and renamed Ardian.[6][7]

During 1999, Axa IM paid US$125 million for a controlling stake in the Rosenberg Group, an active quantitative global equity manager based in California.[8] It was renamed to "Rosenberg Equities" which now operates as the quantitative investment platform under Axa IM. In the same year, AXA Real Estate Investment Managers was also established. It was eventually renamed to the "Real Assets" platform.[9]

In 2002, Axa IM set up its Structure Finance division.[4]

In 2005, Axa IM purchased the investment firm, Framlington Group from HSBC Holdings and Comerica for US$342.5 million.[10] It was renamed to "Framlington Equities" which now operates as a long term equity active management platform under Axa IM.

In 2006, Axa IM established a joint venture with Shanghai Pudong Development Bank. The resulting joint venture was AXA SPDB Investment Managers Co., Ltd, which is based in China.[11]

In 2008, Axa IM set up a joint venture with Kyobo Life Insurance Company. The resulting joint venture was Kyobo AXA Investment Managers, which is based in South Korea.[12][13]

In 2012, Axa IM established two joint ventures with Bank of India. They were BOI AXA Investment Managers Private Limited and BOI AXA Trustee Services Private Limited, which are based in India.[14]

During 2016, Axa IM set up Chorus, a hedge fund platform. In the same year, the Real Assets division acquired Sydney-based, Eureka Funds Management to expand its real assets' operation in the Asia-Pacific region.[15]

Axa Investment registered as a crypto service provider in France in March 2023, avoiding disruption to their services.[16] Bloomberg reported in August 2023 that Axa Investment Managers would be laying off around 90 positions out of its 2,600 employees it had as of the end of 2022.[17]

In April 2024, Axa IM acquired W Capital Partners, a private equity firm specializing on GP-led and secondary investments.[18]

In July 2024, it was reported that there were talks to merge Axa IM and BNP Paribas Asset Management into a joint venture between Axa and BNP Paribas which would have €1.4 trillion ($1.5 trillion) in assets under management.[19]

Business overview

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Axa IM has seven different investment platforms. They are:

At the end of March 2020, of Axa IM's AUM, around 40% was in Fixed Income, 29% Multi-Asset, 8% in Structured Finance, 12% in Real Assets and 7% in Equities.[20]

During 2020, Axa IM restructured its organization to create two main business units, Axa IM Alts and Axa IM Core.[21]

Axa IM Alts consists of the Real Assets, Structured Finance and Chorus investment platforms. At the end of 2020, it had €159 billion assets under management.[22]

Axa IM Core consists of the Framlington Equities, Rosenberg Equities, Fixed Income and Multi-Asset investment platforms. At the end of 2020, it had €559 billion assets under management.[22]

Axa IM has offices in 22 different country which cover Europe, Asia and North America.

References

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  1. ^ a b "AXA Investment Managers | AXA IM Corporate". 7 April 2024. Archived from the original on 7 April 2024.
  2. ^ "AXA Investment Managers: Growth in the fast lane" (PDF). 27 April 2006. Archived (PDF) from the original on 20 January 2022.
  3. ^ "Le groupe Axa décidé à se développer dans la gestion pour compte de tiers". Les Echos (in French). 7 March 1995. Archived from the original on 5 April 2023. Retrieved 3 March 2021.
  4. ^ a b "20 years AXA INVESTMENT MANAGERS". communications.axa-im.com. Archived from the original on 5 April 2023. Retrieved 3 March 2021.
  5. ^ Waks, Fabienne (2011). "Generation AXA" (PDF). AXA. Archived (PDF) from the original on 20 January 2022.
  6. ^ "Ardian". Strategist. Archived from the original on 1 December 2022. Retrieved 3 March 2021.
  7. ^ "Ardian is new name for AXA private equity spinoff". Pensions & Investments. 30 September 2013. Archived from the original on 7 March 2023. Retrieved 7 March 2023.
  8. ^ IPEDecember 1998. "AXA takes control of Rosenberg". IPE. Retrieved 3 March 2021.{{cite web}}: CS1 maint: numeric names: authors list (link)
  9. ^ "Isabelle Scemama appointed as CEO of AXA Investment Managers - Real Assets". realassets.axa-im.com.
  10. ^ "AXA Investment Managers agreed to purchase Framlington Group for about..." Pensions & Investments. 28 July 2005. Archived from the original on 4 May 2020. Retrieved 3 March 2021.
  11. ^ "AXA China fund JV eyes 10 bln yuan fund by year-end". Reuters. 28 August 2007. Archived from the original on 5 April 2023. Retrieved 3 March 2021.
  12. ^ "Kyobo, AXA Group to Set up Asset Management Firm". koreatimes. 4 June 2008. Archived from the original on 5 April 2023. Retrieved 3 March 2021.
  13. ^ "AXA to buy 50 pct in S.Korea asset firm from Kyobo". Reuters. 4 June 2008. Archived from the original on 5 April 2023. Retrieved 3 March 2021.
  14. ^ "About Us". www.boiaxamf.com. Archived from the original on 28 January 2021. Retrieved 3 March 2021.
  15. ^ "AXA IM-Real Assets has its Eureka moment". Australian Financial Review. 21 September 2016. Archived from the original on 5 April 2023. Retrieved 3 March 2021.
  16. ^ "Axa Investment registers as crypto service provider in France". Reuters. 8 March 2023. Archived from the original on 5 December 2023. Retrieved 1 April 2024.
  17. ^ "Axa's Asset Management Unit to Cut up to 90 Roles in Revamp". Bloomberg. 21 August 2023.
  18. ^ Dorbian, Iris (3 April 2024). "AXA IM to snap up PE firm W Capital Partners". PE Hub. Archived from the original on 7 April 2024. Retrieved 7 April 2024.
  19. ^ Foerster, Jan-Henrik (4 July 2024). "Axa and BNP Paribas Said to Explore Asset Management Tie-Up". Bloomberg.com. Retrieved 6 July 2024.
  20. ^ "AXA Investment Managers – Investing and Building for Asia's Future -Asian Wealth Management and Asian Private Banking". www.hubbis.com. Archived from the original on 25 November 2020. Retrieved 3 March 2021.
  21. ^ Khullar, Arshiya (11 March 2020). "AXA IM restructures to create €137bn global alternative investment platform". Infrastructure Investor. Archived from the original on 11 April 2021. Retrieved 3 March 2021.
  22. ^ a b "Full-year 2021 earnings". Archived from the original on 13 March 2021. Retrieved 25 February 2021.
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