A new range of managed funds launched into the retail market yesterday by Axa Australia will use leading finds manager Alliance Capital. Axa CEO Les Owen hailed the move as “the next major step” in the company’s expansion into the funds management market.

Speaking at the launch in Melbourne yesterday, Alliance Senior Vice-President Sandra Yeager said the trusts will allow ordinary investors to invest in global growth industries that are not usually available in the Australian equity market.

Alliance has more than $860 billion in assets under management. Under this arrangement, Axa will conduct the marketing of the products for Alliance to manage.