AXA Wealth's total sales increased by 68% over the first six months of the year, while the firm saw strong growth in assets on the Elevate platform and specialist multi-manager business Architas.
Total sales increased from £1.5bn for the first half of 2012 to reach £2.5bn, while AXA Wealth's overall assets increased by 21%, from £20bn to £24.3bn over the same period. Sales on the Elevate platform rose by 52%, from £622m to £945m while assets under management increased by 48% from £4.3bn to £6.4bn. Total assets for Architas increased by 17% from £10.8bn to £12.6bn. Currently, 78% of new business for the investment company is going into funds with clean share classes, reports AXA. AXA Wealth chief executive Mike Kellard (pictured) said: "The results show how we are reaping t...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
