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AXA IM reaches £3 billion in core CDI strategies as they bolster team with appointment of Rob Price as Portfolio Manager

  • 27 November 2018

AXA Investment Managers (AXA IM), today announced the appointment of Robert Price to Portfolio Manager in the Buy and Maintain Fixed Income team, effective immediately. Rob, an existing member of the Solutions Management team, will report to Lionel Pernias, Head of Buy and Maintain in London and will be a key member of the team focused on Cashflow Delivery Investing (CDI) strategies.

In his new role Rob will be responsible for managing credit portfolios within AXA IM’s Buy and Maintain team but will have a renewed focus on CDI. AXA IM’s core CDI strategies have reached £3 billion in assets year-to-date, in what has been a successful period for the team.

Lionel Pernias, Head of Buy and Maintain, London, commented:

“As pension schemes become more focused on cashflow delivery, we continue to see growth and demand from providers on buy and maintain credit strategies. Rob brings extensive knowledge and understanding of UK pension schemes and their investment strategies, enhancing our offering within this space”.

“However, cashflow delivery is not just about buy and maintain, but also other broader solutions. We as a manager are working with clients to build and provide CDI solutions to meet their needs, whether it be in core credit or other public/private instruments.”

Rob was previously part of the Liability Driven Investing (LDI) team working closely with pension schemes and consultants to design derivative-led investments. He was responsible for designing a range of liability risk management solutions such as third party hedging, derivatives and cash flow strategies, as well as delivering information and analytics to clients and consultants.

Rob will continue to work with AXA IM’s UK LDI clients, and remain part of AXA IM’s consolidated European LDI team which consists of seven portfolio managers and six solution strategists, located across three regions globally.

John Stainsby, Head of Client Group UK at AXA IM, added:

“As a business we focus our energy and investment on where we think we can offer our clients clear insights and a distinctive offering. 85% of UK pension funds will be cashflow negative1  by 2027 and therefore we believe they should be thinking about CDI strategies today. We believe that integrated de-risking and cashflow delivery  should be a priority for pension funds.”

“Year-to-date we have attracted over £3billion into cashflow delivery solutions and with Rob’s addition to this team we believe we have the right expertise, skills and experience to support clients’ growing demand for cashflow.”

AXA IM manages £311 billion in Buy and Maintain Credit globally as at 30 September 2018.

    Note to editor

    About Robert Price

    Robert lead the Solutions Management team in the UK at AXA IM, where he was responsible for third party hedging, derivative and cashflows strategies. He joined AXA IM in April 2014 from KPMG Investment Advisory where he worked as an Investment Consultant advising trustees and sponsors of UK defined benefits pension plans on investment strategy with a focus on asset liability modelling and liability driven investing. Rob is a qualified actuary with an MA from Cambridge University.

    1 – Mercer study