AXA Investment Managers has committed to donating 5% of its impact funds’ management fees and a lump sum of €500,000 to charities, including the Access to Medicine Foundation
Supporting vulnerable communities amid the covid-19 pandemic, the asset manager has donated €500,000 to Access to Medicine, which will direct this towards activities pertaining to the prevention and response to infectious diseases and pandemics such as the coronavirus.
The group highlighted 50% of the world’s population do not have proper access to healthcare and the Access to Medicine Foundation’s mission is to guide and incentivise pharmaceutical companies to improve access to medicine in low- and middle-income countries.
Additionally, AXA IM has said it will donate 5% of its impact fund range’s management fees to fund additional projects aimed at developing solutions with a societal impact. These projects will be focused on the themes which AXA said is at the core of its corporate responsibility and responsible investment strategies, and aligned with selected UN Sustainable Development Goals (SDGs), such as:
- SDG 1 – No Poverty
- SDG 3 – Good Health and Well-Being
- SDG 4 – Quality Education
- SDG 5 – Gender Equality
- SDG 13 – Climate Action
Gérald Harlin (pictured), executive chairman of AXA IM, commented: “The current covid-19 environment highlights even more the need for the financial industry to play a different and more impactful role in our societies. Today, building on AXA Group’s recent response to the crisis and staying true to our convictions regarding active ownership, we are taking an extra step to press for progress in areas that matter. Our partnership with the Access to Medicine Foundation and commitment to donate a portion of our impact funds’ management fees to support projects aligned with the UN Sustainable Development Goals (SDG), not only reflects our purpose but also what we believe to be our mission in making long lasting positive changes worldwide.”
The group added its Core and Alternatives (Alts) business units will be involved in this initiative, including AXA IM Alts’ fourth impact investment strategy, which aims to address the basic needs of the emerging consumer through healthcare and financial inclusion.
Harlin added: “We see growing appetite from investors for strategies that encompass responsibility and impact. By embedding a charity mechanism into our impact funds, we are meeting our clients’ expectations while having a direct impact on individuals, communities and our society. This is yet another way for us to bring our mission to life: investing together with our clients to build a better tomorrow.”