AXA IM to donate 5% of impact funds' management fees to charities

€500,000 also to be donated to Access to Medicine Foundation

AXA Investment Managers (AXA IM) has revealed the launch of a "philanthropy mechanism", whereby 5% of the management fees from its impact funds will be donated to a collection of charities.

This donation will apply to both core and alternative impact funds, which currently represent €1.2bn (£1.1bn) of assets under management, and any future impact funds launched will also donate 5% of their management fees. AXA IM expands impact investing offering Charities and foundations to receive the support will be chosen by dedicated internal committees, which are set to meet twice a year and be composed of members from the impact strategy and responsible investments team, along with the managers of the relevant funds. Gérald Harlin, executive chairman of AXA IM, said: "It will ...