AXA Investment Managers announced the launch of the AXA IM Wave USD Credit 2027 fund, an actively managed, three-year fixed maturity product (FMP) that will invest across a diversified portfolio in US-denominated investment grade and high yield debt.
The fund will have an investment grade average rating. The FMP aims to lock-in yields available in the current market environment and to offer investors an alternative to cash and money market investments over a period when short-term rates are expected to fall, the press release said.
The fund aims to mirror the profile of a single bond through a diversified portfolio that offers investors a combination of both investment grade and high yield investments.
The fund will leverage a dedicated 33-person US corporate credit investment team, with extensive experience managing short-term portfolios in US investment grade and high yield for more than twenty years. This marks the ninth FMP launched by AXA IM since 2015.
Frank Olszewski, CFA, Head of Investment Grade Active US Credit, and Vernard Bond, CFA, US high yield Senior Portfolio Manager will co-manage the fund. Both will be supported by the US Credit Investment teams.
The fund will continue to deploy AXA IM’s fundamental and disciplined bottom-up investment process, centered in selecting companies with robust fundamentals through in-depth credit research and diversification.
The fund is designed to be held until the fixed maturity date of December 15th, 2027, and open to new subscriptions until February 28, 2025.
