Axa Wealth wrap assets rise a third in 12 months

Total assets on Elevate were £8.4bn at the halfway point in 2014, against £6.4bn at the same moment last year, a rise of 31%. Inflows on the platform rose 8% to £1.1bn. Assets also increased on the provider's investment unit, Architas, from £12.6bn to £13.3bn, while funds for its remaining off-wrap pensions and investment range totalled £18.4bn by 30 June 2014. The increases helped improve Axa Wealth's overall funds under management by 10% from £24.3bn to £26.7bn. Total single premium retail sales were up 4% to £1.6bn. Meanwhile, Axa Wealth reported a marked rise in SIPP business, ...