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Axa Wealth plans to double assets by 2015

Axa Wealth says it is aiming to more than double its assets to £45bn by 2015.

The company has £19bn under management and managing director of UK distributors David Thompson says he expects much of the growth to come through the Elevate platform. He predicts it will have between 10 and 15 per cent platform market share by 2015.

He says: “We have been really pleased with the growth we have achieved over the last 12 to 18 months and we will continue to grow. Axa Wealth is aiming to have £45bn assets by 2015 and we expect to have a large proportion of those assets on Elevate.”

Thompson added that Axa is working on developing an execution-only option for the platform, which will enable the service to serve platform orphan clients, with the service expected to launch in 2012.

Axa Wealth platform assets under administration increased to £2.9bn in the first half of 2011, a rise of 107 per cent compared with the same period in 2010.
Platform business represents 40 per cent of all sales, rising from 21 per cent in the same timeframe in 2010.

Total assets under management increased from £15.6bn to £18.9bn and total Axa Wealth sales grew by £1.9bn.

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