AXA IM has launched a property fund that will invest in both equity and debt in an effort to produce a return profile similar to that of direct real estate investment.
The AXA WF Global Flexible Property fund targets a 60% equity and 40% debt allocation - though the market cycle may prompt adjustments to these weightings - and is designed to mimic a real estate company's balance sheet liabilities. It will be run by Frédéric Tempel, global head of listed real estate at AXA IM, in conjunction with a team drawn from AXA IM and its AXA Real Estate subsidiary. The fund house said the SICAV will provide daily liquidity, reduced volatility, improved diversification and lower transaction costs relative to direct property investments. "Mixing real estate ...
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