Axa Wealth has launched a range of risk-rated multi-asset passive funds aimed at pension savers and run by the group’s multi-asset arm Architas.
The Elite Diversified Market Range is available to investors in Axa Wealth’s Retirement Wealth Account, Investment Bond and Trustee Investment Plan products. The funds have been risk-rated by eValue.
The group highlighted the Department for Work and Pensions’ recent report into fund costs and its proposed cost cap, and said the new range would be “typically available for less than 0.5 per cent a year”.
Nick Elphick, managing director at Axa Wealth Specialist Products, said: “The reality of today is that people are living longer, annuity rates have fallen and the state is going to be less able to support people in their retirement. The combination of these factors has meant that pension provision has become a key area of focus for the government, product providers and consumers.
“In a post-RDR world where advisers are looking for solutions to enable them to spend more time looking after their clients, combined with market volatility where clients are looking for investment stability, the use of a managed range of passive funds can help to address these needs.”