Axa Elevate assets jump 49% in 12 months
Platform now accounts for more than half of parent company’s retail sales, interim results show.
Axa’s Elevate platform has seen its assets increase by almost 50 per cent from £2.9bn to £4.3bn in the 12 months to June 30, according to parent company Axa Wealth’s half-year report.
The platform also recorded an increase in sales of 11 per cent, compared with figures for the first half of 2011. New business for the platform now accounts for 52 per cent of all Axa Wealth’s individual sales, the company said.
Architas, Axa Wealth’s multi-manager business, saw its assets increase 26 per cent from £8.6bn to £10.8bn. In total Axa Wealth reported a 7 per cent increase in its total assets under management to £20.9bn.
Axa Wealth chief executive officer Mike Kellard said: “No one should doubt our commitment to our market and the financial resources available to Axa Wealth to ensure the Elevate platform succeeds, nor the support we will continue to provide to advisers.”
The company also confirmed plans to launch Axa Self Investor, a direct-to-consumer platform.