Axa Asia plans eightfold increase in alternatives

Reflecting a trend among insurance firms in Asia, Axa Asia is moving to boost its exposure to alternative investments to 7-8% of its regional AUM and to raise its offshore allocation. The firm’s aim is to diversify its portfolio and boost returns in the low-yield environment. At present the French insurer allocates around 1% ($120 million) of its $12 billion in life insurance general-account assets to hedge funds, infrastructure, private equity and real estate. Its plans would i…