PARIS, April 25 The asset management arm of the
French insurer AXA plans to cut the amount it invests
for clients in the coal industry worth 177 million euros
The decision of AXA IM, which manages 714 billion euros of
assets, comes on top of the group's announcement in 2015 that it
would cut its exposure to the coal industry to the tune of 500
AXA IM plans to pull out of companies that derive more than
half of their revenue from coal-related activities.
"The decision means AXA IM will be divesting approximately
165 million euros of fixed income portfolios and 12 million
euros of equities portfolios," AXA IM said, adding that clients
may choose to opt out of this policy should they wish so.
($1 = 0.9184 euros)
(Reporting by Gus Trompiz, writing by Maya Nikolaeva,; editing
by Louise Heavens)