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AXA IM hands equity outperformer two funds

AXA IM hands equity outperformer two funds

Citywire + rated Cyril Benier has stepped in to take over the microcap equity and energy funds following Sebastien Lagarde leaving AXA IM for Mandarine Gestion, Citywire Global has learned.

Citywire Global reported earlier this week that Lagarde had been hired by the Paris-based group over the summer and was handed a restructured version of its small- and mid-cap fund.

This saw the Mandarine PME transformed into a micro-cap-focused fund, with Lagarde replacing the previous new manager Diane Bruno.

Meanwhile, AXA IM has opted to hand Benier the AXA WF Framlington Junior Energy fund as well as working on the AXA WF Framlington Europe Microcap fund alongside Antoine de Crépy. Lagarde had run both of these funds since their respective launch dates.

In other changes, Olivier Eugène, a commodity specialist, will assume responsibility for the AXA WF Framlington Hybrid Resources and will remain the deputy fund manager on AXA WF Framlington Junior Energy

Benier currently oversees the AXA Deutschland fund, which is a German-domiciled domestic equity fund. He has been lead manager on this strategy since July 2011 when he took over from Francois-Xavier Aubrey.

Benier has been with AXA IM since June 2008, having served in several roles but with a particular focus on European and global small-caps. He was also previously head of European small-cap equities at Natixis Asset Management.

The AXA Deutschland fund returned 54.7% in euro terms over the three years to the end of August 2015. This compares to a rise of 53.3% by its Citywire-assigned benchmark, the HDAX TR, over the same timeframe.

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