In a landmark €5.4 billion transaction 1 poised to reshape the global asset management landscape and significantly impact the Philippine fintech industry, AXA Group has officially confirmed the completed sale of AXA Investment Managers (AXA IM) to BNP Paribas.
This strategic move by one of the world’s largest and most trusted financial institutions aims to bolster AXA’s investment capabilities and ensure continued robust value and uninterrupted service for its customers worldwide, with a particular focus on fortifying the financial ecosystem in the Philippines.
For AXA Philippines, a pivotal market within the broader AXA Group, this strategic partnership translates into unwavering stability and continuity for its clientele. Despite the ongoing transition, customers can expect seamless service, with AXA IM steadfastly remaining the target fund provider for AXA Philippines’ popular investment-linked life insurance global funds.
These include the comprehensive AXA Global Dynamic Allocation Fund (available in Stable, Multi-Asset, and Growth options for both Peso and Dollar denominations) and the AXA Global Edge Equity Fund (also in Peso and Dollar). Crucially, there will be no immediate alterations to AXA IM’s business operations, its legal entity name, existing fund managers, fund names, or investment strategies.
Alliance with BNP Paribas to streamline AXA’s Group’s core offerings
Ayman Kandil, President and CEO of AXA Philippines, underscored the profound benefits of this alliance. “This strategic partnership allows us to tap into the global expertise of BNP Paribas while continuing to offer our customers the same unparalleled expertise they expect from AXA,” Kandil stated.
“It aligns with our long-term vision to provide trusted, innovative, and effective solutions that will help Filipinos achieve their financial goals. Our customers can be assured that their investments remain in good hands and that there will be no disruption in fund performance monitoring, customer support, or access to investment insights,” he further stated.
The acquisition marks a pivotal moment, as BNP Paribas, a financial titan operating in 64 countries with nearly 178,000 employees, now joins AXA as a long-term strategic partner. This transaction is a cornerstone of AXA Group’s overarching ambition to streamline its business model.
Strategic divestment to empower AXA’s core insurance
By divesting AXA IM, the AXA Group intends to sharpen its focus and channel resources predominantly into its core insurance offerings: Life and Savings, Property and Casualty, and Health. This strategic simplification is designed to enhance efficiency and reinforce AXA Group’s leadership in these key insurance sectors.
Furthermore, the AXA Group, encompassing AXA Philippines, will retain full and independent authority over critical decisions concerning product design, asset allocation, and asset-liability management. This commitment ensures that AXA will continue to maintain access to best-in-class asset management services, leveraging the strengths of its partners while safeguarding its core strategic direction.
The combined might of AXA IM and BNP Paribas creates a formidable new European asset management champion. With an impressive €1.5 trillion in assets under management, this newly formed entity solidifies its position among the top 10 global players in the asset management industry. 2 This scale and expertise are expected to bring enhanced capabilities and broader opportunities for clients across the globe.
For more information about AXA Philippines’ unwavering commitment to holistic well-being for all, customers and interested parties are encouraged to visit the official website at https://www.axa.com.ph. This strategic move by AXA Group is poised to strengthen its market position and ensure a future of continued innovation and reliable service for its valued customers.
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1 (i) Completed in two tranches: €0.1bn in March 2024 and €0.2bn in March 2025 and (ii) Select (formerly named ‘Architas’) is an AXA company offering investment solutions, including management of funds, investment management services, advisory services, and investment related services, to retail customers in France, Belgium, Hong Kong, and Indonesia.
2 As of December 31st, 2024, based on companies’ financial disclosures.
