First fund from AXA hedge division

The AXA Asian Absolute fund will be the first fund from the E450m hedge fund division of AXA Investment Managers.

The structured and alternative investment management division will house all Axa's structured and hedge fund businesses encompassing 45 staff from offices in London, Paris, New York and Hong Kong.

The Asian Absolute fund will launch in 2002 and will be managed by Andrew Alexander in Axa's Hong Kong office. Alexander is currently running a model portfolio with internal money.

The fund