View more on these topics

Axa Elevate to add further 1,000 clean share classes by Q3

David Thompson

Axa Elevate has committed to adding a further 1,000 clean share classes to its platform by the end of the third quarter.

The platform took its clean share class total to 1,690 last month when it added 1,000 funds. Managing director David Thompson says 40 per cent of Elevate inflows in March went into clean classes.

Thompson says: “We will add another 1,000 clean shares to the Elevate platform by the end of the third quarter. We think this is the way the market is going and see it as a promotion of transparency. This will give us almost 3,000 clean share classes on our platform.”

Thompson says he expects the percentage of Elevate inflows going into clean share classes to increase as a result of HMRC’s announcement that platform rebates are to be taxed.

However Thompson has confirmed Axa will continue to offer bundled funds.

He says: “If a client or adviser thinks they are getting a better deal by going into a bundled fund and paying tax on the rebate then we are not going to stand in their way by only offering clean funds.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm