Advisers whose clients are seeking diversified income investments can now provide a discounted ongoing charge for Axa Investment Management’s Distribution Fund.
The Axa Distribution Fund and the Axa Defensive Distribution Fund will be available at 0.51 per cent ongoing charges figure on the Axa Elevate platform. This is compared with an average 0.76 per cent OCF when invested through other platforms.
For investors looking for a monthly income, the Axa Lifetime Distribution Fund is available at 0.32 per cent OCF on the Elevate platform.
Richard Marwood, who has been the fund’s manager since 2008, said: “We believe that Axa IM’s Distribution Fund strategy has served cautious investors well over the years. This new offering allows access to that tried and tested strategy at a very competitive price.”
The fund’s investments include a mix of equities and index-linked gilts to offer diversification for capital growth over the medium term, and provides some protection from inflation and market blips.
Adviser view
Patrick Connolly, certified financial planner for Somerset-based adviser Chase De Vere, said: “This is a decent fund with a good long-term track record. However, we don’t use it or the Elevate platform. This sounds like it is a means of boosting the platform’s funds under management.”
