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View More Press Releases by AXA Investment Managers

Press release:

AXA Launches New CITs to Broaden DC Plan Offering

Issued by: AXA Investment Managers

Date: Oct. 3, 2016

GREENWICH, CT, September 28, 2016 -- AXA Investment Managers (AXA IM), an active, long-term global multi-asset manager, announced today the formation of the AXA Investment Managers Collective Investment Trust (AXA IM CIT) as part of its ongoing effort to broaden the firm's offering to clients in the U.S. The new U.S. offering is an important component of the firm's regional strategy to provide innovative, low-cost investment solutions for Defined Contribution (DC) and Defined Benefit (DB) plans. The launch of this new offering also emphasizes the strategic importance of the U.S. investment market for AXA IM as a global asset manager.

Within the AXA Investment Managers CIT, AXA IM is offering clients three timely strategies:

  • AXA IM U.S. High Yield Collective Investment Fund;
  • AXA IM International Small Cap Equity Collective Investment Fund; and
  • AXA IM U.S. Small/Mid Cap Equity Collective Investment Fund.
AXA IM will serve as the Investment Advisor to all three funds, utilizing the same dedicated, U.S.-based investment teams that manage AXA IM's existing offerings across multiple asset classes. Global Trust Company, a Maine chartered bank with over $29 billion in AUM, is Trustee of the Trust, and State Street Corporation is the Trust's Custodian, Administrator and Transfer Agent.

Steve Sexeny, Head of North America Client Group, said: "As part of AXA IM's efforts to offer customized solutions that address our clients' evolving needs in the U.S., we are pleased to launch these three initial investment strategies in asset classes where we have a proven track record of success. We have seen increased investor demand for CITs as a low-cost investment alternative for 401(k) and 457 plans, and therefore, we believe this is an opportune time for AXA IM to launch these new vehicles.

"The launch of the AXA IM CIT highlights our commitment to the U.S. market and our ambition to continue growing AXA IM's presence in the region."

Many U.S. investors have shown increased interest in Collective Investment Trusts as an investment vehicle that provides the daily liquidity of a mutual fund, the low expenses of a managed account, and the operational simplicity of a commingled fund. By leveraging AXA IM's existing investment, risk, compliance and operational expertise, in addition to its global partnership with State Street Corporation, the AXA IM CIT will allow plan sponsors to offer diversified, low-expense investment options for the benefit of their plan participants.

About AXA Investment Managers

AXA Investment Managers is an active, long-term, global, multi-asset investor focused on enabling more people to harness the power of investing to meeting their financial goals. By combining investment insight and innovation with robust risk monitoring, we have become one of the largest asset managers in Europe with ambitions to become the chosen investment partner of investors around the world. With approximately $755bn in assets under management as of the end of June 2016, AXA IM employs over 2,350 people around the world and operates out of 29 offices in 21 countries. AXA IM is part of the AXA Group, a global leader in financial protection and wealth management.

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