AXA Wealth approaches break-even as platform assets jump

Assets on AXA Wealth's Elevate platform rose 31% to £8.4bn in the first half of the year, as the wider business approached break-even point.

French insurance giant AXA does not report profitability figures for its individual businesses, but a spokesperson for AXA Wealth said the business was on course to be profitable by the end of the year. Group funds under management rose 10% to £26.7bn, while the firm's Architas multi-manager range rose 6% to £13.3bn. Overall, total retail sales were up 4% to £1.6bn in the six months to 30 June. CEO Mike Kellard (pictured) said: "We’ve managed to deliver another strong performance across the business. "There is however still a lot to do if we are truly going to help more people s...