What happens in the US can – and typically does - have a global impact. In our latest Sound Progress podcast, AXA IM Chief Investment Officer, Core Investments, Chris Iggo and AXA Group Chief Economist and Head of AXA IM Research Gilles Moëc discuss how the world’s largest economy and its policies affect the rest of the world, and what it means for investors.

Recorded on 26 April 2024

An AXA IM podcast

Produced by GOOM

Music performed by Sum Wave, composed by Niclas Gustavsson

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This marketing communication does not constitute on the part of AXA Investment Managers a solicitation or investment, legal or tax advice. This material does not contain sufficient information to support an investment decision.

It has been established on the basis of data, projections, forecasts, anticipations and hypothesis which are subjective. Its analysis and conclusions are the expression of an opinion, based on available data at a specific date. All information in this document is established on data made public by official providers of economic and market statistics. AXA Investment Managers disclaims any and all liability relating to a decision based on or for reliance on this document. All exhibits included in this document, unless stated otherwise, are as of the publication date of this document.

Furthermore, due to the subjective nature of these opinions and analysis, these data, projections, forecasts, anticipations, hypothesis, etc. are not necessary used or followed by AXA IM’s portfolio management teams or its affiliates, who may act based on their own opinions. Any reproduction of this information, in whole or in part is, unless otherwise authorised by AXA IM, prohibited.

Past performance is not a guide to current or future performance, and any performance or return data displayed does not take into account commissions and costs incurred when issuing or redeeming units. References to league tables and awards are not an indicator of future performance or places in league tables or awards and should not be construed as an endorsement of any AXA IM company or their products or services. Please refer to the websites of the sponsors/issuers for information regarding the criteria on which the awards/ratings are based. The value of investments, and the income from them, can fall as well as rise and investors may not get back the amount originally invested. Exchange-rate fluctuations may also affect the value of their investment. Due to this and the initial charge that is usually made, an investment is not usually suitable as a short term holding.

Issued in the UK by AXA Investment Managers UK Limited, which is authorised and regulated by the Financial Conduct Authority in the UK. Registered in England and Wales No: 01431068. Registered Office: 22 Bishopsgate London EC2N 4BQ. In other jurisdictions, this document is issued by AXA Investment Managers SA’s affiliates in those countries.

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In the face of the global polycrisis of war, climate change, slow growth, and political instability, many corporate leaders are revaluating their net zero commitments to prioritize concerns such as supply chain resources, high interest rates, and declining consumer demand amid a cost-of-living crisis.

In this episode of Sound Progress, our host Herschel Pant speaks to Simon Rawson, Deputy Chief Executive of ShareAction; Gilles Guibout, Head of European Equity Strategies at AXA IM; and Héloïse Courault, Senior Corporate Governance and Stewardship Analyst at AXA IM, about shifting corporate priorities and why it is important that CEOs hold steady on their sustainability commitments.

Héloïse references AXA IM’s Corporate Governance and Voting Policy in this episode. For the full details, please refer to the following links for additional information:

Stewardship & Engagement | Responsible Investing | AXA IM Corporate (axa-im.com)

AXA IM calls on companies to appropriately report on their climate lobbying activities in its updated voting policy | AXA IM Corporate (axa-im.com)

Recorded on 7 March 2024

An AXA IM podcast

Produced by GOOM

Music performed by Sum Wave, composed by Niclas Gustavsson

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This marketing communication does not constitute on the part of AXA Investment Managers a solicitation or investment, legal or tax advice. This material does not contain sufficient information to support an investment decision.

It has been established on the basis of data, projections, forecasts, anticipations and hypothesis which are subjective. Its analysis and conclusions are the expression of an opinion, based on available data at a specific date. All information in this document is established on data made public by official providers of economic and market statistics. AXA Investment Managers disclaims any and all liability relating to a decision based on or for reliance on this document. All exhibits included in this document, unless stated otherwise, are as of the publication date of this document.

Furthermore, due to the subjective nature of these opinions and analysis, these data, projections, forecasts, anticipations, hypothesis, etc. are not necessary used or followed by AXA IM’s portfolio management teams or its affiliates, who may act based on their own opinions. Any reproduction of this information, in whole or in part is, unless otherwise authorised by AXA IM, prohibited.

Past performance is not a guide to current or future performance, and any performance or return data displayed does not take into account commissions and costs incurred when issuing or redeeming units. References to league tables and awards are not an indicator of future performance or places in league tables or awards and should not be construed as an endorsement of any AXA IM company or their products or services. Please refer to the websites of the sponsors/issuers for information regarding the criteria on which the awards/ratings are based. The value of investments, and the income from them, can fall as well as rise and investors may not get back the amount originally invested. Exchange-rate fluctuations may also affect the value of their investment. Due to this and the initial charge that is usually made, an investment is not usually suitable as a short term holding.

Issued in the UK by AXA Investment Managers UK Limited, which is authorised and regulated by the Financial Conduct Authority in the UK. Registered in England and Wales No: 01431068. Registered Office: 22 Bishopsgate London EC2N 4BQ. In other jurisdictions, this document is issued by AXA Investment Managers SA’s affiliates in those countries.

The move to a low-carbon economy will require a substantial increase in the production of so-called transition minerals which are needed for, amongst other things, renewable electricity networks, battery performance and permanent magnets - key components of wind turbines and electric vehicles. These minerals (including copper, aluminium, lithium, nickel, cobalt and manganese) all need to be mined - a process which has historically often been at odds with positive environmental outcomes and labour practices. For investors, this has clear implications.

In this episode of Sound Progress, our host Herschel Pant speaks to Professor at Paris School of Economics, Mouez Fodha; AXA Group Chief Economist and Head of AXA IM Research, Gilles Moëc; and AXA IM Portfolio Manager, Tom Atkinson; about the importance of minimizing harm during this critical transition and the role that investors can play in this process.  

In this episode, guests refer to AXA IM’s approaches to ESG, stewardship and engagement. For more information, please see the following links:

·       Stewardship & Engagement | Responsible Investing | AXA IM Corporate (axa-im.com)

·       Putting ESG to work | AXA IM Core (axa-im.com)

Music performed by Sum Wave, composed by Niclas Gustavsson

******************************************************************************

This marketing communication does not constitute on the part of AXA Investment Managers a solicitation or investment, legal or tax advice. This material does not contain sufficient information to support an investment decision.

It has been established on the basis of data, projections, forecasts, anticipations and hypothesis which are subjective. Its analysis and conclusions are the expression of an opinion, based on available data at a specific date. All information in this document is established on data made public by official providers of economic and market statistics. AXA Investment Managers disclaims any and all liability relating to a decision based on or for reliance on this document. All exhibits included in this document, unless stated otherwise, are as of the publication date of this document.

Furthermore, due to the subjective nature of these opinions and analysis, these data, projections, forecasts, anticipations, hypothesis, etc. are not necessary used or followed by AXA IM’s portfolio management teams or its affiliates, who may act based on their own opinions. Any reproduction of this information, in whole or in part is, unless otherwise authorised by AXA IM, prohibited.

Past performance is not a guide to current or future performance, and any performance or return data displayed does not take into account commissions and costs incurred when issuing or redeeming units. References to league tables and awards are not an indicator of future performance or places in league tables or awards and should not be construed as an endorsement of any AXA IM company or their products or services. Please refer to the websites of the sponsors/issuers for information regarding the criteria on which the awards/ratings are based. The value of investments, and the income from them, can fall as well as rise and investors may not get back the amount originally invested. Exchange-rate fluctuations may also affect the value of their investment.  Due to this and the initial charge that is usually made, an investment is not usually suitable as a short term holding.

Issued in the UK by AXA Investment Managers UK Limited, which is authorised and regulated by the Financial Conduct Authority in the UK. Registered in England and Wales No: 01431068. Registered Office: 22 Bishopsgate London EC2N 4BQ. In other jurisdictions, this document is issued by AXA Investment Managers SA’s affiliates in those countries.