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The AXA IM UK Commitment to its Customers

We aim to meet and exceed wherever possible the standards of behaviour all customers are reasonably entitled to expect of an investment organisation – one that is committed to dealing with them in an honest, open, competent manner and with integrity.


We will endeavour to always be informed and understand client needs and be fully committed to helping each client to get the most out of their relationship with AXA IM UK.

 

Our fund charges and costs explained

AXA Investment Managers ("AXA IM") and AXA Framlington Funds

 

This information is set out in accordance with AXA IM's corporate values; AXA Investment Managers UK promotes the understanding of the nature of charges, costs and transparency therein, which is in line with the Investment Association's (IA) recommended practice.

This information on charges and expenses relates to AXA IM & AXA Framlington Funds, UK-registered Open Ended Investment Company (OEICs) and Authorised Unit Trusts (AUTs) (referred to on this page as OEIC & AUT or our fund range).

The charges you pay are used to pay the costs of running AXA IM's OEICs & AUT. These charges can reduce the potential growth of your investment.

The notes below explain what these charges may be and the Ongoing Charges Matrix lists the charges applicable to our fund range.

For more detailed information regarding fund charges, please refer to the "Fees and Expenses" section of the current prospectus of any AXA IM & AXA Framlington Fund, which can be accessed via our Fund Library

View recent changes to our pricing policy.

What is the entry charge/initial charge?

This is a charge that is deducted from the initial investment amount before it is invested in the fund.

For example if you invested £100 and a 5% entry charge was applied:

  • £95 would be used to buy shares/units in the fund.
  • £5 would cover the charge.
     

For R, H Shares/Units the maximum charge is between 4% to 5.5% depending on the fund; please see the latest Prospectus for the fee rate for each fund.

At present there is no entry charge for classes Z, ZI, A and S Shares/Units. (Please note that some classes are entry by agreement with AXA IM only).

If new charges were to be introduced AXA IM UK would give you, as an investor, appropriate notice.

Further details can be found in the Prospectus and Supplementary Information Document of each fund, which can be located via our Fund Library.



What is the exit charge?

There is no exit charge for our fund range.



What is the performance charge?

There is no performance charge for our fund range.

 

What are the ongoing charges?

There are different charges and costs borne by our fund range each year. These are called "ongoing charges" and are used to pay for the running of the fund and cover all aspects of operating a fund during the year, including;

  • Fees paid for investment management to the investment manager (AXA IM)
  • Administration
  • Registration
  • Audit
  • Independent oversight functions
     

These fees are known collectively as the Ongoing Charges Figure (OCF). The OCF is an industry standard way of measuring the aggregate effect of a number of these charges. 

The OCF is expressed as a percentage of the daily NAV (Net Asset Value).

The OCF excludes the costs of buying or selling assets for the fund (unless these assets are shares of another fund).

The OCF for each fund is calculated annually (as at 31st December) based on each fund's historic expenses for the previous year. This figure may vary from year to year.

For ease, each fund's OCF can be found in the KIID document; available from our Fund Centre or our Fund Document Library

When previously incurred expenses would not be a fair representation of the future costs of investing in the fund, or where 12 months of information is unavailable, an estimated charge is calculated.

Ongoing charges matrix 34 KB PDF

 

Example of ongoing charges collected by AXA IM funds

Annual management charge + Operation and admin expenses = Ongoing charge


More information about the AXA IM and AXA Framlington Fund ongoing charges

Annual Management Charge (AMC)

Investment in managed funds incurs an Annual Management Charge (AMC). This is the amount paid to AXA IM UK for professionally managing the assets of the fund. The AMC is reflected as a percentage that is deducted from your investment returns every year; however it is reflected in the fund's daily price.
 

Operation and Admin expenses

  • Registration Fee - This is a fee paid in return for AXA IM UK paying or satisfying certain ongoing registration and general expenses.
     
  • Trustee/Depository Fee - This fee is charged by the fund's trustee or depository, who are responsible for ensuring that funds operate correctly and in accordance with the Prospectus and the Financial Conduct Authority (FCA) rules.
     
  • Custody (safe keeping) Fee - This fee is charged by the fund's custodian who are the legal owners of the fund's property and are responsible for the safe keeping of the fund's assets.
     
  • Custody Transaction Fee - Represents transaction expenses incurred by the custodian of the fund for fund assets.
     
  • Audit Fee - Fees and expenses charged by the fund's auditors in respect of their independent audit of the fund's financial statements as well as any other related services.
     
  • Regulatory Fee - A fee paid to the FCA as regulator of the fund.

 

Pricing policy note

AXA IM's funds operate single pricing methodology, with a potential for a swing price. A swing price is used to protect your investment from the costs of buying or selling investments that result from a large investment joining or leaving the fund. Please see the Prospectus for details.

More information