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Axa launches funds to be managed by other companies

Axa Investment Managers has launched four unit trusts which will invest in funds by rival fund management companies.

The “MultiManager” unit trusts will be run by Simon Wood, a senior fund manager with Axa. They are the Global Opportunity, Growth, Income and 2020 funds.

The growth opportunity and growth trusts will aim to achieve capital growth by investing internationally in diversified portfolios.

The Income fund aims to achieve a sustainable level of income by focusing in UK equities and fixed interest securities.

The 2020 funds will gradually reduce the risk level over its 20 year life, also hoping to provide capital growth. After the 20 years, the fund will be invested in low risk areas to provide regular income.

Axa business development manager Mike Mumford says: “Consumers have a huge number of Oeics and unit trusts to choose from. By using MultiManager they have access to funds put together by an investment house with global expertise in this market.”

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