AXA Investment Managers is to introduce ‘single swing’ pricing across its AXA Framlington fund range to simplify the buying and selling process for investors.
The firm has opted to introduce swing pricing instead of having bid and offer prices to protect the interests of existing unitholders by minimising the impact of large inflows or outflows.
Single pricing will be applied across the Framlington and AXA General unit trust ranges. It means the value of existing investors’ holdings is protected as the manager has the ability to swing the price of units for incoming and outgoing clients.
Funds across the range will move over to single pricing in batches in September and early October. For example, the AXA Framlington UK Mid Cap fund, run by Citywire AA-rated Chris St John, will move to single pricing on 8 September.
The AXA Framlington UK Select Opportunities fund, managed by A-rated Nigel Thomas (pictured), will transition to new pricing on 15 September, while A-rated George Luckraft’s Equity Income fund moves over on 22 September.
Rob Bailey, head of UK wholesale distribution, described the move to single swing pricing as ‘an important step’, demonstrating the firm’s commitment to its clients.
AXA IM joins the ranks of fund groups that have moved over to single pricing. They include BlackRock, Standard Life Investments and Franklin Templeton.