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Axa Wealth assets surge to £46bn

Mike Kellard

Axa Wealth saw total assets under management growing by 26 per cent to £46bn from £36bn in the first quarter of 2015.

In its first quarter results, published today, the firm says assets in the company’s multi-manager business Architas reached £20.4bn, increasing by 43 per cent compared to a year ago, while platform Elevate saw assets growing for the period at £10.8bn, up 9 per cent from £10bn.

Funds under management increased by 9 per cent to £32.2bn from £29.7bn in the first quarter, a year ago mainly driven by increased pensions sales.

Pension and investment business increased to £11.8bn from £10.1bn year-on-year.

AXA Wealth chief executive Mike Kellard says: “Following the recent news from Axa UK ending the uncertainty over the last few months, I’d like to thank our people and our advisers for all their support toward helping make Axa Wealth such a strong and successful business.”

The firm has confirmed it is in discussions to sell its pensions and investment business and SunLife as well as a deal to sell Axa Wealth International to LCCG and the Elevate platform to Standard Life.

Axa Wealth has also confirmed it will retain Architas and deploy it across Axa’s European life and savings businesses.

Kellard says: “Over the coming months we will be working hard to ensure the transition to the new owners is as smooth as possible for advisers and their clients, ensuring continuity of service.”

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