AXA Rosenberg, an AXA Investment Managers company specialising in global, active equity asset management, has been chosen by the National Council for Social Security Fund (NCSSF) to manage the Fund’s first international investments. AXA Rosenberg will manage a Global ex-US equities mandate with the goal of outperforming the MSCI World ex-US index. AXA Rosenberg is one of a group of ten international managers selected by the NCSSF to provide investment services to the Fund.
“We are very pleased to have been chosen for this mandate, which recognises our expertise in managing global equity portfolios, that represent 40 percent of our assets,” says Stphane Prunet, the Global chief executive officer of AXA Rosenberg. “As a specialist within AXA Investment Managers’ multi-expert organisation, we have particular expertise in working with large government pension funds to help address their long-term funding liabilities. We look forward to forging a long-term relationship with the NCSSF.”
“We are honored to have been selected for the first international allocation by this important organisation,” adds Anthony Fasso, the Asia Pacific chief executive officer at AXA Rosenberg. “The award of this mandate recognises AXA Rosenberg’s unique investment process, and continues the strong momentum we have built as part of the Asian focused strategy of the AXA Investment Managers group, where our combined assets have increased by more than 250 percent over the past 5 years.”
This is the first foray into international markets by China’s national pension fund, and marks a significant step in the diversification of the Fund’s investments. Earlier this year the Chinese Government announced that the NCSSF could begin allocating funds to international fund managers. Previously investments were limited to China, in fixed income, domestic equity, and private equity, including stakes in pre-IPO state-owned companies.