Axa Wealth sales drop 11%
Axa Wealth sales have dropped 11% to £845m in the first quarter of the year, from £950m in the first three months of 2011.
Assets under management grew from £18.6 billion in the first quarter of 2011 to £20.1 billion in the first three months of this year.
Architas’ total assets were up 37% to £10.7 billion. Elevate’s total sales were up 14% to £426m. Total assets on the platform now stand at £4 billion.
Platform business now represents half of all individual sales, up from 39% in the first three months of 2011.
Mike Kellard, chief executive of Axa Wealth, says: “The markets may well be ’schizophrenic’ in the words of the IMF, but Axa Wealth is still experiencing strong appetite from investors.”