The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

AXA IM 
AXA IM Alts, which runs alternative investments and is a unit of AXA Investment Managers, has launched its AXA IM Investment Grade ABS Fund, holding asset-backed securities.

The fund is the most liquid offering on AXA IM Alts’ ABS platform featuring daily dealing, targeting an AA average rating credit quality portfolio through investing in investment-grade secured assets, AXA said in a statement yesterday. 

The new entity covers a range of consumer-linked assets including corporate credit, real assets and collateralised loan obligations.

“Through different cycles, ABS has demonstrated resilience and robustness as an asset class. This has led to growing interest and investors’ appetite for ABS solutions. This launch expands our offering to meet evolving investor needs,” Deborah Shire, deputy head of AXA IM Alts, said. 

The alternative assets business of AXA IM oversees €183 billion ($204 billion) of assets under management. The new fund will add to AXA IM Alts’ €25 billion ABS range.

Schroders Capital
Schroders Capital, the specialist private markets business of UK-listed Schroders, has received regulatory approval to launch its third Long-Term Asset Fund, which concentrates on UK venture capital. 

LTAFs are structured to make it easier for ordinary investors to hold private equity, venture capital, private credit and other previously difficult-to-enter assets. 

The Financial Conduct Authority granted regulatory clearance for the LTAF.

Schroders Capital, which has $97.3 billion in assets under management, will invest in firms working in innovation themes such as artificial intelligence, quantum computing, fintech, cybersecurity and oncology.

As announced earlier this year, the fund will be seeded with a £300 million ($397 million) cornerstone investment. The British Business Bank has committed £150 million. This is part of the UK Government’s Long-term Investment for Technology and Science (LIFTS) initiative.

Schroders launched its first LTAF in April last year. 

Carmignac
Independent asset manager Carmignac has launched its first private equity strategy, marking the firm’s entry into managing private assets. The firm said that it represents a milestone in the expansion of its investment offering, adding a complementary private market product to its public-market fund range.

Carmignac’s entry into private markets, follows a series of initiatives through its own balance sheet, including, most recently, becoming a cornerstone investor of specialist secondaries’ firm, Clipway – announced in October 2023.

The strategy is managed by a dedicated team of four private equity specialists, led by Edouard Boscher, who joined the firm in October 2023 as head of private equity.

In addition to their own deal analysis, the Carmignac private equity team will employ the company’s operational experience, embedding its public-market knowledge into private markets. This includes risk and liquidity management, and research from sector analysts and the sustainable investment team. 

The strategy has been seeded by Carmignac, consistent with its commitment to maintaining strong alignment of interests with clients.

“Carmignac is committed to giving distributors and investors the possibility to gain exposure to private equity through a product offering the same quality, terms and conditions as those traditionally earmarked for institutional investors,” Boscher said.

Founded in 1989, Paris-headquartered Carmignac, is fully-owned by the founder, his family, and employees.