AXA Investment Managers named third party management company Carne Group as management company on its new Euro Long Term Credit Fund, according to a news release.
The fund is the Ireland-based, euro-denominated equivalent of AXA IM’s Sterling Long Term Credit, launched in 2019. Through the fund, AXA IM looks to provide institutional clients with long-term exposure to European investment-grade credit for potentially attractive yields and improved portfolio diversification, liquidity and ESG characteristics.
The fund will also look to provide stable credit returns and long duration for pension funds, and potentially allow European pension plans to de-risk as their funding levels improve.
Carne will act as the management company, overseeing management of the fund.
"As European pension schemes de-risk and seek diversified credit solutions, we are seeing growing demand from asset managers to find faster and more efficient routes to market,” said Mark Stockley, chief business development officer at Carne Group, in the news release.
With offices in Europe and the U.S., Carne supports funds distributed in over 160 countries and overseeing more than $2 trillion assets under management.
The France-headquartered AXA IM manages approximately €859 billion ($933.4 billion) in assets.
