Axa Wealth is to lower charges for the £973m Axa Investment Managers Distribution fund on its Elevate platform.
Advised customers will now pay an ongoing charge of 0.51 per cent instead of 0.76 per cent. Investors on other platforms will continue to be charged 0.76 per cent for the fund.
Axa Investment Managers Richard Marwood, manager of the Distribution Fund, says: “We believe that AXA IM’s Distribution Fund strategy has served cautious investors well over the years. This new offering allows access to that tried and tested strategy at a very competitive price.”
The Distribution fund delivered a 2.7 per cent loss in the year to date, compared with a 1.7 per cent loss for the Mixed Investments 20%-60% Shares sector. However, over five years the fund returned 25.7 per cent compared to the sector’s 25.1 per cent.
Axa Wealth managing director of business development and proposition David Thompson says: “By investing with us advisers and customers can continue to benefit from the original team and strategy that made them select the Distribution Fund in the first place.”
In June, Axa Wealth added the Axa IM Smart Diversified Growth fund to its range offering it exclusively until the end of 2015, when it will be available more widely.