Elevate powers Axa Wealth AUM to £18bn

The group said platform business now accounts for 40% of all sales, up from 18% last year, after writing £374m worth of new business in the first three months of the year. Total Axa Wealth sales grew to £950m in the first three months of the year, up from £852m in 2010, driven by Elevate and the group's multi-manager offering Architas. The period also saw strong demand for offshore bonds via its AXA Wealth international offshore businesses. Total assets under administration on Axa Wealth grew to £18.6bn, with Elevate contributing £2.5bn and pension and offshore bonds £4.7bn. For...