Mercer’s investment business in Australia has awarded a $150 million mandate to AXA Investment Managers.
The allocation will be invested in the AXA Investment Managers global investment grade SmartBeta credit strategy, according to Financial Standard.
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The mandate will complement other managers within Mercer’s global credit portfolio.
Additionally, the mandate aims to achieve a cost-efficient and well-diversified global credit exposure without the drawbacks of market capitalisation index tracking strategies.
AXA IM’s expanded portfolio is built from a universe of bond investments determined by a number of rules-based and fundamental filters.
The SmartBeta credit strategy aims to buy well, diversify intelligently to minimise exposure to risks and implement efficiently.
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By GlobalDataAXA IM currently manages more than $2.5 billion in SmartBeta equity and $1.8 billion in SmartBeta credit.
