Architas and Elevate growth sees Axa Wealth sales increase 54%

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Mike Kellard: Excellent growth for both Elevate and Architas

Axa Wealth saw a 54 per cent increase in sales across the business for the first half of the year, up from £1.7bn to £2.6bn.

Total AUM increased 21.5 per cent, from £20bn to £24.3bn, with the Elevate platform seeing a 48 per cent increase in assets, from £4.3bn to £6.4bn. Adviser inflows onto Elevate increased 52 per cent, to £945m.

Fund arm Architas saw a 17 per cent increase in assets, from £10.8bn to £12.6bn.

The firm’s corporate arm saw a huge increase in sales, up 794 per cent to 903m, with AUM up 49 per cent to £3.8bn.

Offshore bond sales increased 10 per cent, from £345m to £380m.

The results compare favourably with last year’s half year figures, which reported a dip in sales, from £1.9bn to £1.6bn.

Axa Wealth says if you exclude the impact of the closure of its bancassurance arm, a move reavealed by Fundweb sister title Money Marketing in April, like-for-like sales increased 68 per cent over the period. 

Axa Wealth chief executive Mike Kellard says: “The results show how we are reaping the benefits of positioning our business to where the investment market is going, with excellent growth for both Elevate and Architas so far this year.”