AXA IM shifts to single pricing on Framlington funds

AXA Investment Managers is to move away from dual pricing on its Framlington range of equity funds in order to protect existing investors.

As of 8 September, the group will begin shifting the Framlington funds from bid/offer pricing to swing pricing, which seeks to minimise the impact of large inflows or outflows within funds. The switch will mean investors will pay a single price when either purchasing or redeeming shares, as opposed to the current system of paying an offer price when purchasing shares or a bid price when redeeming. Rob Bailey, head of distribution at AXA IM, said the move will help provide a "clear and understandable" set of practices to clients. The Framlington range includes Nigel Thomas' (picture...