Axa Wealth new sales hit £5bn in Q3

Kellard Mike Axa Wealth 2014Axa Wealth grew its new sales by 87 per cent to £5.12bn in the third quarter of this year helped by new assets flowing to its Architas and platforms businesses.

In its third quarter results, published today, new sales reached £5.12bn compared to £2.74bn in the same quarter a year ago.

Funds under management increased by 14 per cent to £30.4bn from £26.6bn year-on-year, particularly driven by growth in corporate investment business bringing an extra £2.6bn.

Axa Wealth multi-manager arm Architas saw total assets increase by 46 per cent to £19.4bn for the same period.

The firm’s SIPP and investment platform also boosted funds under management by 16 per cent to £19.9bn, while the wrap platform saw total assets hitting £10bn, up 13 per cent from £8.8bn one year ago.

Axa Wealth’s new business income was up 46 per cent to £578m.

Axa Wealth chief executive Mike Kellard says: “Over the past five years we have grown assets for our pensions and investment business from around £15bn in 2010 to over £30bn, along with nearly £20bn in our multi-manager business.

“It’s been a year of huge change for our industry and I’m extremely proud of the way Axa Wealth has responded to the opportunities and grown over the past nine months, which follows four years of rapid growth.

“These results reflect the calibre of the proposition built over recent years, the agility demonstrated in launching new offers to support advisers and their customers and the valued support of our adviser partners.”