AXA IM: Sterling LTC Fund Hits £2 Billion Milestone in 5 Years

AXA Investment Managers (AXA IM) has successfully reached a milestone by raising £2 billion in assets for its multi-client Sterling Long Term Credit (LTC) fund since its inception in 2019. This fund, hosted by Carne Group, is part of AXA IM's Buy & Maintain strategy, which has cumulatively raised £32 billion globally in third-party asset management. The Sterling LTC fund aims to provide consistent cash flow returns for pension schemes without the high transaction costs typically associated with such investments. It also incorporates sustainability criteria aligning with UK pension schemes' commitments. Highlights from the fund's achievements include serving 36 clients, distributing £352 million in income, encountering zero defaults, and successfully navigating through various global crises. Due to its success, AXA IM has expanded the strategy to Europe by launching a Euro version of the fund, already attracting £150 million in funding. The asset manager, a part of the larger AXA Group, manages approximately £869 billion in assets globally, with 480 billion in ESG-integrated assets.