Axa Investment Managers is broadening the theme of its Framlington Financial fund to include fintech.
Following the restructure, due to take effect on 20 November, the 32-year old £55 million mandate will be renamed as the AXA Framlington FinTech fund.
The strategy will invest in businesses developing technology for financial services in addition to financials such as banks and insurers.
Portfolio manager Vincent Vinatier will remain head of the fund, with its ultimate investment objective remaining the same.
Vinatier said: ‘Since the fund’s launch in 1986, the financial services sector has undergone dramatic changes.
'Technological advances have changed aspects of how people and businesses interact and operate, and this is particularly true when it comes to financial services.'
He added: ‘By recognising this evolution and amending the fund’s investment policy accordingly, we believe the fund will have access to more investment opportunities and be better placed to identify companies that can adapt to the fast changing financial service landscape and provide long term growth for the fund.’
The rebrand follows those of the firm’s Framlington Health fund as the Longevity Economy fund in August, and the Framlington Global Opportunities Fund as the Framlington Global Thematics fund in April.
The changes come after the firm in February announced a restructure of its research team around five core thematic ideas: increased life expectancy, e-commerce, automation, clean tech and changing global consumption patterns.
Accountancy KPMG in July reported that over £12 billion flowed into British fintech in the first half of this year, largely attributable to US payment processing giant Vantiv’s purchase of UK peer WorldPay.