In-house managers

The AXA Group includes fund management companies which we refer to as in-house managers, such as AXA Investment Manager. We may choose to include funds managed by in-house managers, which we refer to as in-house funds, within our multi-manager funds. 

We follow an in-depth research process that ensures that the funds selected for our multi-manager funds are included on the potential benefits they could bring to our funds. 

We are not influenced by the AXA Group to include in-house funds over funds from other fund managers. Funds are selected principally on the basis of our assessment of their consistency of investment returns, the risks related to the investment strategy, the strength of the investment process and the stability of the fund's management team. We regularly review our selection of funds, including those from in-house managers, to ensure they continue to be appropriate and in your best interests.

When determined to be in the best interest of our clients we may also, from time to time, appoint in-house managers as investment manager to some of our funds under the terms of a formalised investment management agreement. Under these sub-delegated arrangements, we maintain the overall responsibility for the investment management of our funds, and monitor, on a regular basis, the compliance of the appointed manager with the requirements of the investment management agreement. Any such appointments are typically put in place at the fund launch date, and are subject to formal internal governance and approvals, including those required from the regulator and depositary.

Further information of any appointments of in-house managers as investment managers and information regarding our use of in-house funds, is disclosed in more detail within the relevant offering documents of the AXA IM Select funds.