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Axa IM launches tech fund in Thailand

Axa Investment Managers has partnered with two domestic asset management firms in Thailand to launch its technology-focused fund, according to a statement from the firm.
Axa IM launches tech fund in Thailand

Bangkok-based Land & House Fund Management (LH Fund) will offer Axa IM’s Digital Economy Fund in the form of a feeder fund.

The other fund manager, Asset Plus Fund Management, will offer the fund as part of a fund of funds, which will invest  30%-40% of its assets in the Axa IM fund, with the remainder invested in equities and global ETFs.

Axa IM’s Digital Economy product was launched in October 2017 and invests in companies that contribute to the digital economy’s overall value chain. Around 73% of its assets is invested in information technology companies, according to its fund factsheet.

Last August, Axa IM partnered with Asset Plus to launch its robotech fund in the form of a feeder fund.

The Thai regulator last year allowed HNW investors to buy a foreign fund directly from their wealth manager without the feeder fund’s local wrapper. However, partnering with domestic fund managers to launch feeder funds remains the best strategy for foreign asset managers looking at Thailand according to Cerulli Associates.

The assets of foreign investment funds, which include feeder funds, grew 15% annually to THB 1.17trn ($37bn) in 2017, according to Bank of Thailand’s 2017 financial stability report.

In Asia, Axa IM has offices in Hong Kong, Singapore, Sydney, Tokyo, as well as joint ventures in Shanghai, Seoul and Mumbai. Globally, it managed $896bn in assets as of the end of December, according to the statement.

The performance of the Axa World Funds Framlington Digital Economy Fund versus its benchmark and sector in Singapore since its inception.


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