The fund was launched in April 2010 as an onshore version of its Luxembourg SICAV.
The main restriction was a limit on the daily investment possible in the fund. Although there was never any cap on the fund, the manager said restrictions had been put in place to protect existing investors.
“Axa IM can confirm that having introduced a number of formal measures, to slow the pace of investment into the Axa IM FIIS US short duration high yield fund in order to protect existing investors, it has now, after careful consideration, removed the main restriction on inflows,” a spokesperson for the company said.
Like most securities in the strategy, the fund is managed in a team approach, with head of US high yield Carl Whitbeck as the named manager.
Robert Schumacher serves as head of US fixed income and James Gledhill, formerly head of fixed income at Henderson, as global head of high yield and deputy head of credit.
When the fund initially launched, it was managed by then senior portfolio manager Anne Yobage, who managed the offshore version of the fund as part of the assets managed by the firm’s US fixed income team, based in Greenwich, Connecticut.
Yobage has since left the company.
