AXA Framlington Japan Eq: Qual Rating Under Review

A change in leadership at AXA Framlington Japan means we’re suspending our rating until we can meet the new manager.

Mark Laidlaw 24 May, 2010 | 10:01AM
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We have published a new Morningstar Qualitative Rating and Research Report for AXA Framlington Japan.

"On May 11, the firm announced that Anja Balfour--who had managed the fund since September 2004--had resigned and, going forward, the fund would be managed by Chisako Hardie, who for the last couple of years had been comanager alongside Balfour. Our view of Balfour’s experience and knowledge was positive and her loss is a disappointment. Under her stewardship the fund lagged the Morningstar Japan Equity Large-Cap category by 1 percentage points annualised. Not surprisingly given the punchy nature of the portfolio, the returns pattern was at times distinctly at odds with peers, underperforming in 2005, 2007, and particularly so last year, whilst performing solidly in 2006 and holding up reasonably well during the midst of the global turmoil of 2008."

The full four-page PDF report can be accessed here. It is free to users of morningstar.co.uk.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
AXA Framlington Japan R Acc620.95 GBP-1.97Rating

About Author

Mark Laidlaw  Mark Laidlaw is a senior analyst, manager research for Morningstar.

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