AXA Property trust manager to exit as vehicle winds down

Trust to realise assets by year-end

Martin McGuire has resigned as manager of the AXA Property trust, as the investment company looks to wind down its assets by the end of the year.

The manager will leave on 28 November after eight years running the trust, to be replaced by senior fund manager and head of pan-European funds and real assets, Ian Chappell. The trust is currently in the process of winding down its portfolio, with a view to realising its investments by December "in a manner that achieves a balance between maximising the value from the company's investments and making timely returns of capital to shareholders". There is not expected to be any material change in the wind down of the portfolio following the manager change. A spokesperson for AXA Inve...