pension fund trustee perspective at AXA Investment Management round table discussion
29 May 2014
Gerry Degaute represented LawDeb Pension Trustees and provided the pension fund trustee perspective at an AXA Investment Management round table discussion held earlier in the month when the advantages and disadvantages of AXA’s approach to global small cap equities funds was debated.
The funds aim to provide long-term capital appreciation with above average returns. Key issues under discussion were whether a quantitative or qualitative approach is likely to provide the better outcome and the impact of the degree of diversification of AXA’s funds, and the impact of holding a total of around 600 stocks.
there was a balanced debate that compared the potential for greater conviction in having a smaller number of stocks with the risk-adverse approach of the high degree of diversification which is a major factor in the AXA approach.