AXA Wealth has moved into profitability following "strong growth across the business", which saw overall funds under management (FUM) increase by 11% last year.
The firm's annual results showed FUM grew from £25.5bn in 2013 to £28.2bn at the end of 2014, with retail sales totalling £3.3bn. The business' platform AXA Elevate saw funds grow 24% in the period, from £7.5bn to £9.2bn. Funds under management for the AXA Wealth pensions and investment range totalled £18.4bn, while assets also increased for the group's investment business Architas, from £12.8bn to £13.6bn. Pension sales were up 18%, from £406m to £477m. AXA said it had benefited from investing in its infrastructure and distribution model, making its platform more transparent an...
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