The product, Axa Income Generator, will invest in various asset classes, including Australian and international equities, listed property, infrastructure, fixed interest, inflation-linked bonds and hybrids.
In contrast to a pension fund, the allocation to equities in the Income Generator is relatively modest, with about 30 per cent in Australian equities and 5 per cent in international equities, and a focus on stocks with high dividend yields.
Axa subsidiary ipac is responsible for the selection of fund managers in the portfolio, which includes Legg Mason Global Asset Management and Ankura Capital for Australian equities, Epoch for international shares and Macquarie for fixed interest.
