AXA Investment Managers is closing two of its bond funds due to a lack of investor interest and insubstantial assets in the products.
The group will close its £35.4m Sterling Long Corporate Bond and £41.7m Sterling Long Gilt funds on 20 November, over a decade after both launched in 2004. A spokesperson for AXA IM said: "We continually review our fund offering to ensure they are in the best interests of investors and also match market demand. Having considered the size of the two funds in question we believe they are no longer economically sustainable. "We have considered client demand and believe we will not see a resurgence in demand for these funds. In addition, we anticipate that due to the size of the funds we ...
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