Launches & Closures Wrappers / Structures

Axa plans first fund of UCITS funds

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Axa Investment Managers is planning to launch its first fund of UCITS hedge funds in the first quarter of next year.

Aarnout Snouck Hurgronje, director of alternative investments at AXA Investment Managers, said the UCITS III diversified fund is being aimed at specific investors like unit-linked businesses of insurance companies, institutional clients, private banks and other investors that can’t invest in its Irish-domiciled fund of hedge funds business.

The fund, which is currently unnamed, is likely to be domiciled in Luxembourg, but that decision has yet to be taken and the fund will have a management fee of