AXA Wealth has moved into profitability following "strong growth across the business", which saw overall funds under management (FUM) increase by 11% last year.
The firm's annual results showed FUM grew from £25.5bn in 2013 to £28.2bn at the end of 2014, with retail sales totalling £3.3bn. The business' platform AXA Elevate saw funds grow 24% in the period, from £7.5bn to £9.2bn. Funds under management for its pensions and investment range totalled £18.4bn, while assets also increased for its investment business Architas, from £12.8bn to £13.6bn. Pension sales were up 18%, from £406m to £477m. AXA said it had benefited from investing in its infrastructure and distribution model, making its platform more transparent and easier to use. ...
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
