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AXA Framlington American Growth

Elite Rated by FundCalibre

Innovation, unique brands and intellectual property are the sort of features that can give companies a competitive advantage, helping them grow into market leaders. These kind of stories are what the manager Steve Kelly and his team hope to uncover in their quest for growth stocks in the US market. The fund performs particularly well when the US market is in a growth phase.

Company Description

AXA Investment Management is the asset management arm of the eponymous French insurance giant. It is one of the largest investment companies in Europe and acquired Framlington Investment Managers in 2005. Framlington Equities provides a dynamic, autonomous investment culture within the larger AXA group.

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Fund Manager

Steve Kelly’s experience in US equity markets spans more than 20 years and he has run this fund since 1997. The US equity team support a collaborative environment whereby stock ideas are openly shared between the fund managers.

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You need to be able to innovate and change behaviour as a result of innovation, and that leads to certain sector biases that emerge. It’s no good innovating in the consumer staples sector; nobody’s ever going to change the way people wash their hair.

Stephen Kelly - Fund Manager

The Investment Process

Finding the growth stories that fit his stock-picking framework is what Steve believes will provide investors with superior returns over the long term. He benefits from the cross-fertilisation of investment ideas provided by Framlington managers, notably in technology, healthcare and biotechnology.

Risk

The nature of growth companies, which tend to be cyclical and affected by external factors, in addition to the bias towards medium-sized companies, means the fund will be more volatile than the typical large-stock focused US fund.

Our Opinion

Steve is an experienced manager backed up by a well-resourced team. The focus on strong growth, and the bias toward mid-cap stocks, allows the fund to be able to benefit from exciting, less researched companies in the US market, which should prove beneficial, particularly in growing economic conditions.

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©2014 FundCalibre Limited. All Rights Reserved. The information, data, analyses, and opinions contained herein (1) include the proprietary information of FundCalibre, (2) may not be copied or redistributed without prior permission, (3) do not constitute investment advice offered by FundCalibre, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a fund, and (5) are not warranted to be correct, complete, or accurate. FundCalibre shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. The Elite Fund rating is subjective in nature and reflects FundCalibre’s current expectations of future events/behaviour as they relate to a particular fund. Because such events/behaviour may turn out to be different than expected, FundCalibre does not ,guarantee that a fund will perform in line with its FundCalibre benchmark. Likewise, the Elite Fund rating should not be seen as any sort of guarantee or assessment of the creditworthiness of a fund or of its underlying securities and should not be used as the sole basis for making any investment decision. FundCalibre disclaims any responsibility for trading decisions, damages or other losses resulting from any use of the Elite Fund rating.