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AXA Investment Bond customers benefit from increased payment

10th December 2010 Print

AXA Investment Bond customers investing in the AXA Distribution Life Fund are benefiting from an increased payment following positive performance from the Distribution Fund.

The November distribution payment is up by 6% on the distribution declared in May 2010 and reflects continued strong performance from the £4.9 billion fund managed by Jim Stride, Head of UK Equities, AXA Investment Managers on behalf of Friends Provident.

The AXA Investment Bond, which has exclusive access to the AXA Distribution Life Fund as well as the whole family of Distribution life Funds, transferred to Friends Provident following the acquisition of part of the AXA Sun Life business by Friends Provident's parent company Resolution in September this year.

Jim Stride, who was awarded the OBSR Honour for Outstanding Contributor to the Industry in 2009, has managed the Fund for over 26 years.  The team's consistent investment approach has contributed to the success of the Fund and the range.

Investment performance in the Distribution Fund in the last two years was up 8.2% in the year to September 2010 and 6.3% in the previous year.

The Investment Bond achieved a Defaqto 5 Star Rating in 2010 following the same award from 2008 and 2009.  The Distribution Fund, 'AA' rated by OBSR, currently invests around 57% in equities and 39% in Government UK index-linked gilts and provides twice-yearly distributions to customers.

Mel Rees, investment proposition manager at Friends Provident, said: "The 6% increase in distribution from the AXA Distribution Life Fund is very positive news for investors.  There continues to be real demand for the prospect of income generation that this fund offers."