AXA GIE provides insurance and financial services. The Company offers property, casualty, and life insurance, as well as savings, project funding, banking, retirement plans, and asset management services. GIE AXA serves both individuals and companies worldwide.
AXA GIE is the AXA Group's ("AXA Group") parent entity and this report focuses on its responsible investment activities as an Asset Owner as per PRI signatory category - "Asset Owner".
AXA Group PRI landing page and historic reporting here: https://www.unpri.org/signatory-directory/axa-group/908.article
AXA GIE ("AXA Group") assets (€969bn) consist of General Account assets (€576bn), assets backing contracts with financial risk borne by policyholders (€73bn) and assets managed on behalf of third parties (€321bn) (data as at end December 2019). See the 2019 Universal Registration Document page 15 for further details (https://www-axa-com.cdn.axa-contento-118412.eu/www-axa-com%2F90abd6c7-80c4-48ef-84bf-1d038670d9b7_axa-urd2019-en.pdf).
AXA Group's responsible investment (RI) activities apply to the insurance group's General Account (GA) assets (covering €576bn). As discussed in this report in detail, the RI activities that relate to the GA assets that are overseen by the Group RI Committee (RIC) and are covered by the Group RI policy. The responses provided in this report focus on AXA Group's activities at the strategic and overall policy level (OO, SG), as well as at the manager selection level (SAM).
This report focuses on practices related to General Account assets (€576bn). The Group assets in focus are managed by majority-owned and minority-owned AXA Group entities.
Life Insurance Unit Linked Accounts (€73bn) are also managed by majority-owned and minority-owned AXA Group entities, and are subject to RI policies of those entities that are in alignment with overall AXA Group policies and objectives.
Majority-owned investment managers:
AXA Investment Managers (https://www.axa-im.com/) is a global asset management firm based in Paris, France. It has €673bn in assets under management (AUM) (data as at end December 2019). It is a 100% owned by the AXA Group. See the AXA 2019 Universal Registration Document (page 79): https://www-axa-com.cdn.axa-contento-118412.eu/www-axa-com%2F90abd6c7-80c4-48ef-84bf-1d038670d9b7_axa-urd2019-en.pdf
PRI INVESTMENT MANAGER SIGNATORY. Signed the Principles: 29 May 2007. Please find AXA IM PRI reporting here: https://www.unpri.org/signatory-directory/axa-investment-managers/909.article
Architas (https://www.architas.com/) is a global asset management firm providing a range of diversified multi-manager fund of funds based in London, UK. It has £24bn in AUM and advice (data as at end September 2019). It is 100% owned by the AXA Group. AXA Group fully consolidates Architas. See the Architas website for further information: https://uk.architas.com/professional-clients/about-us/who-we-are/
PRI INVESTMENT MANAGER SIGNATORY. Signed the Principles: 11 May 2018. Please find ARCHITAS PRI reporting here: https://www.unpri.org/signatory-directory/architas-limited/3123.article
These firms manage the Group's fixed income, listed equity, fund or funds and property portfolio.
Minority-owned investment manager:
Ardian (https://www.ardian.com/) (formerly AXA Private Equity) is a global asset management firm based in Paris, France. It has $96 billion in AUM (data as at end December 2019). AXA Group retains ownership of 23% of the firm. See the Ardian website for further information: https://www.ardian.com/sites/default/files/reports/Fact_Sheet_Ardian_EN_20191231_0.pdf
PRI INVESTMENT MANAGER SIGNATORY. Signed the Principles: 27 May 2009. Please find ARDIAN PRI reporting here: https://www.unpri.org/signatory-directory/ardian/879.article
The firm manages the Group's infrastructure and private equity portfolio.
In 2019, AXA Group was noted as a leader by the PRI in relation to the selection, appointment and monitoring of external managers in private equity. This is gratefully received and the result of the strong partnership between AXA Group and Ardian in advancing ESG considerations. See the following link for further information: https://www.unpri.org/signatories/showcasing-leadership/leaders-group-2019
THE SCOPE OF THIS REPORT EXCLUDES THE FOLLOWING AXA GIE ASSET MANAGEMENT UNITS:
1) AXA INVESTMENT MANAGERS ("AXA IM") AND 2) ARCHITAS ("ARCHITAS").
As outlined above please refer to direct PRI reports for further details on how these AXA Group's subsidiaries consider responsible investment in their strategy and operations.
IN IT'S COMMUNICATION AXA GROUP MAY UTILISE AN AGGREGATION OF PRI ASSESSMENT AND OTHER ESG REPORTING INFORMATION FROM ALL GROUP ENTITIES TO PORTRAY HOW GROUP WIDE ESG INTEGRATION IS BEING ADVANCED AND GROUP LEVEL STRATEGIC ESG INSIGHTS IS BEING IMPLEMENTED.