Despite the recent announcement that Jim Stride, long standing head of Distributions funds at AXA IM, is to retire, Square Mile is retaining its A rating on the AXA Distribution fund. Over the past few years Mr Stride had continued to preside over the fund's asset allocation with Jamie Forbes-Wilson responsible for UK equity selection and John Madziyire managing the fixed income component.

Whilst we acknowledge the experience Mr Stride brings to the overall investment process, his role within this fund has become more marginal with Mr Forbes-Wilson taking on much of the day-to-day responsibility. Mr Forbes-Wilson will be joined by Matthew Huddart who has been involved in the running of the broader Distribution range of funds, for a number of years. Mr Huddart joined AXA IM's UK Equity desk in 2000.

Through his 40 plus years in the industry Mr Stride has made an outstanding contribution to multi asset investing and we would like to take this opportunity to wish him a long, happy and healthy retirement.