Platform sales on Axa Wealth's wrap proposition Elevate rose 75% in 2011 to £1.3bn, bringing total platform assets under administration to £3.5bn.
Axa Wealth saw total assets under management increase marginally from £17.9bn to £18.9bn during the year, with sales totalling £3.8bn. Platform business represented 42% of all individual sales - up from 23% in 2010. Architas, Axa Wealth's multi-manager offering, saw total assets increase 23%. Mutual Fund premiums were up 49% but sales of offshore bonds were down 22%. Individual off-platform pension products increased from £4.6bn to £4.7bn. The company also announced it has penned a new contract with current platform provider FNZ - something it said secures the future of Elevate. Next ...
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