CompaniesOct 24 2014

Axa Wealth sees funds under management jump 10%

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Axa Wealth has seen overall funds under management increase 10 per cent to £27bn in the third quarter of this year compared to the same period in 2013, while total retail sales were up 3 per cent to £2.5bn over the same period.

The firm’s third quarter 2014 financial results, published today (24 October) also show that the Elevate platform saw funds under management up 26 per cent to £8.8bn from £6.9bn.

Assets have also increased for Axa Wealth’s specialist investment business Architas, up 6 per cent to £13.3bn from £12.6bn a year ago. The Architas Multi-Asset Blended range reached £1bn combined assets in just two years.

Over the last quarter, the firm announced the launch of a self-invested personal pension to lead the new retirement proposition, while also appointing a customer services director to oversee the entire Axa Wealth proposition.

Axa Wealth previously said the new on and off platform will be available from April 2015.

Mike Kellard, the firm’s chief executive, commented that the last couple of years have been transformational for the industry.

“While we’ve enjoyed another successful year so far at Axa Wealth, all of our focus is now on making sure we have one of the best retirement propositions in the market in response to the sweeping pensions and savings reforms.

“We also need to deepen and broaden our appeal with advisers new and existing, through better engagement and improvements in our service and support.

“Our job is to work hard on the fundamentals to make financial planning and investing as easy as possible for advisers and their clients and families. We’ve come a long way but there is still a lot to do.”

peter.walker@ft.com