AXA Investment Managers (AXA IM) is restructuring its Framlington Financial fund into a fintech one.

The £55 million fund, which is over three decades old, will be renamed as the AXA Framlington FinTech fund, as of 20 November this year.

The company says it will continue to invest in “traditional” financial services organisations, such as banks and insurance firms, but will also invest in firms that provide tech to financial institutions.

Vincent Vinatier, manager of the fund, notes: “Since the fund’s launch in 1986, the financial services sector has undergone dramatic changes. Technological advances have changed aspects of how people and businesses interact and operate, and this is particularly true when it comes to financial services.

“By recognising this evolution and amending the fund’s investment policy accordingly, we believe the fund will have access to more investment opportunities and be better placed to identify companies that can adapt to the fast-changing financial service landscape and provide long term growth for the fund.”

Earlier this year, AXA unveiled its plans to focus its research in the emerging themes – clean tech, ageing and lifestyle, automation, connected consumer and transitioning societies – which it believes will have a significant impact on future returns, resulting in a series of fund restructures.