AXA Investment Management is planning to reopen its onshore £535m US Short Duration High Yield fund, after removing the cap on the £4.1bn offshore version of the fund.
The onshore fund, launched in April 2010, is a mirror version of the long-running Luxembourg SICAV. It was soft-closed following strong demand after reaching the £500m mark last November, but Investment Week understands it is poised to reopen the portfolio. The group said: "We can confirm that having introduced a number of formal measures to slow the pace of investment into the AXA IM FIIS US Short Duration High Yield fund in order to protect existing investors, it has now, after careful consideration, removed the main restriction on inflows." The portfolio was run by its US based ...
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