AXA rebrands £55 million fund to invest in fintech

AXA Investment Management is restructuring its £55 million Framlington Financial fund to invest in fintech companies.

Initially launched in 1986, the Framlington portfolio currently holds investments in top tier banks, with a bias to North American equities.

The restructuring will see the fund broaden its mandate to invest in financial technology companies servicing banks, as well as the banks themselves. The new approach will be reflected in a brand makeover to take effect next month, when the fund will be renamed AXA Framlington FinTech fund.

Portfolio manager Vincent Vinatier says the shift in emphasis reflects the dramatic technology-driven changes underway in the financial services sector.

"Technological advances have changed aspects of how people and businesses interact and operate, and this is particularly true when it comes to financial services," he says. "By recognising this evolution and amending the fund’s investment policy accordingly, we believe the fund will have access to more investment opportunities and be better placed to identify companies that can adapt to the fast changing financial service landscape and provide long term growth for the fund."

 

source: https://www.finextra.com