Axa Investment Management has announced that Nick Hayes has replaced Theo Zemek as manager on its £130m sterling corporate bond fund.
Zemek is now set to focus on her role as global head of fixed income at Axa IM, she is also a member of the Axa IM board. Zemek will remain as deputy manager on the fund along with Julie Lamirel.
Hayes joined Axa IM in June 2010 and is also manager of the £46m sterling strategic bond fund.
He says: “In a fragile macro environment and with expectations that interest rates stay low for a long period of time, investment grade credit will provide attractive opportunities particularly at the moment with credit spreads at attractive levels.”