AXA Framlington Equity Income Accumulation Units
HL comment
Our view on this Fund
It has been an exceptionally tough period for this fund. The large scale losses in the financial sector have not helped. The fund’s bias in small and medium sized companies has also been detrimental to performance as these have come under pressure in the slowdown. On the upside, George Luckraft believes many shares have fallen to levels where the yields are attractive and the growth prospects are more encouraging at current levels.
12-11-2008
Information from the fund manager
Please note: The information in this box has been provided by, and is issued by, the fund manager and not Hargreaves Lansdown.
HL group comment: AXA Framlington
Our view on this Fund Management Group as a whole
AXA Framlington is a group which today are worth a look. They have built a reputation for managing a range of high quality core and specialist funds. The fund management team today looks after more than £8.9 billion worth of investments. In 2002 the group strengthened their business with the recruitment of two star managers from ABN AMRO - George Luckraft and Nigel Thomas to concentrate on their more mainstream funds. Then in October 2005, Framlington was taken over by AXA Investment Managers which has served to strengthen its investment capabilities. As far as the Framlington funds are concerned, its business as usual and the key individuals remain very much at the helm of the funds.
13-09-2007
HL sector comment: UK Equity Income
Our view on this sector
With the UK stock market yielding a similar level to gilts, investing in equity income funds could be opportune. Many funds yield in excess of 5% currently. In performance terms it is fair to say that many of these funds have struggled this year by being under exposed to mining shares and some over exposed to financial companies. Going forwards, this sector could provide a core to many investor's portfolios with funds offering the prospect of rising income and capital growth.
20-11-2008