Axa Investment Managers is to join the raft of fund managers outsourcing back office and fund administation having entered exclusive talks with State Street for a deal.

The move would see the fund arm of Axa, the French insurer, transfer the fund administration and investment operations support for more than €200bn ($245bn) of assets managed in the UK, France and Germany. Axa wants to outsource operations to improve services and it believes State Street's solution will do that as well as ensure consistent data, systems and processes across Axa's fund operations.