Architas FUM soars 46% to almost £20bn

AXA Wealth new business also up 46%

AXA Wealth's multi-manager arm Architas saw its total assets grow by 46% during the third quarter, while the wealth management division also reported a set of strong results on the back of the new pensions regime.

Architas reported assets under management increased by almost half to £19.4bn, up from £13.3bn during Q3 of 2014. Overall, AXA Wealth said it saw new business also increase by 46% to £578m, while funds under management grew 14% from £26.6bn in Q3 2014 to £30.4bn for the same period this year. Mike Kellard (pictured), chief executive of AXA Wealth, said: "It has been a year of huge change for our industry and I am extremely proud of the way AXA Wealth has responded to the opportunities and grown over the past nine months, which follows four years of rapid growth. "These results refl...