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AXA Wealth grows FUM 10 percent
01/08/2014 , News Team

AXA Wealth has grown overall funds under management (FUM) by 10 percent from £24.3 billion to £26.7 billion over H1 2013. Total retail sales were up four percent to £1.6 billion over the same period.

AXA Wealth’s wrap platform, Elevate, saw funds under management up 31 percent from £6.4 billion to £8.4 billion. FUM for the remaining AXA Wealth pensions and investment range totalled £18.4 billion. Assets have also increased for Architas, AXA Wealth’s specialist investment business, up six percent from £12.6 billion to £13.3 billion.

Mike Kellard, chief executive officer, AXA Wealth, commented: "We’ve managed to deliver another strong performance across the business. There is however still a lot to do if we are truly going to help more people save and invest for the long-term and make the experience as straightforward as we can.

"The Budget has transformed the way we all plan for retirement, and recast what retirement means to the great majority of the population. We are all living longer, our expectations and aspirations are different to our parents and our role in helping our families live hopefully healthier, wealthier lives is changing too. Our own research shows that as an industry we still have lots to do to convince people of the need to save. My commitment is to do all we can to make investing as simple and intuitive as we possibly can."

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