- Equity research. Analysts organised by sector. Each analyst follows 30 stocks ranked according to fundamentals, quality and target price.
- Alpha list creation. Analysts’ team develops alpha list of stocks offering best potential, with heaviest portfolio weight. Analysts and portfolio managers review fundamentals, valuation and momentum.
- Portfolio construction. Best research ideas reflected in client portfolio, while respecting its own constraints. Construction based on portfolio design parameters, including target tracking errors, average position sizes and targets.
- Risk monitoring and control. Portfolio managers use tools to manage risk and its allocation, and to check exposure to alpha list stocks. Investment support team provides stock-level performance attribution and analysis of focus lists and research recommendations.
The team comprises nine fund managers and six analysts, running 80 different portfolios in core, alpha, and total return, including socially responsible investment and small caps. The five most senior managers decide the content of the Europe large cap alpha list and create the core model portfolio (tracking error versus MSCI Europe between 3 and 5 per cent).
Head of the European equities team is Serge Pizem, who joined Axa in 2002 from CIBC subsidiary TAL Asset Management, and has also worked for Barclays and Credit Lyonnais.
Mr Pizem is assisted by senior portfolio managers Frederic Leguay, Frederic Buzare, Chrysoula Zervoudakis, and Eric Bendahan.
