AXA Puts Out New Hedge Fund

February 12, 2003 ( - AXA Investment Managers is marketing a statistical arbitrage hedge fund.

By offering its AXA Vectris II fund to investors, the French fund manager hopes to widen its position in alternative investments, Dow Jones reported.   The fund will exploit statistical anomalies in equity markets, with a strategy that can go long or short in large capitalization stocks in the UK, France and the US.

The aim is to use highly liquid underlying assets, the fund said in a press release. The fund will be marketed to institutions, fund of hedge funds, private banks, high net worth individuals, and family offices. The fund was launched in November and gained 2.04% in January, according to the company.