Axa Asia-Pacific Holdings (Axa APH) said it will explore the possibility of introducing ipac's multi-manager products to related financial advisory business Genesys Wealth Advisers after inflows to the products weathered the global financial crisis.
"Our multi-manager offer, which is managed by the team at ipac, has continued to generate positive net inflows over the last two years despite the challenging environment, which saw flat to negative market flows over the same period," Axa Australia and New Zealand chief executive Warren Lee said yesterday.
"We will look to replicate the success we had with the Axa Financial Advice network by introducing our multi-manager solutions to Genesys."
Axa APH is the parent of ipac and Genesys.
Inflows to ipac's multi-manager offerings held up due to a number of factors including strong net inflows into multi-manager index options on Axa's platforms and the fact that multi-manager is built into Axa's advice processes, which Lee said makes fund flows more resilient.
Axa APH is also seeing strong multi-manager growth through its North platform, he said.
Ipac has around $13 billion in funds under management.
Barclays Global Investors, Schroders, Lazard, Vanguard, Macquarie Group, Esemplia Emerging Markets and Gresham Private Equity were among the investment managers employed by ipac as at October 2009.
Genesys had 335 advisers and total funds under advice of $8.77 billion as at 30 June 2009, according to the IFA Dealer Group Survey.
Challenger Financial Services Group sold its financial planning division, which included Genesys and Synergy Capital Management, to Axa APH in June 2008.
