In its first quarter results, Axa Wealth recorded total assets of £20.1bn, up from £18.6bn a year ago. A large contribution to this came from Architas, which saw its assets rise to £10.7bn, an increase of 37%.
Assets through its platform business, Elevate, grew by 14% to £426m giving total assets of £4bn. Platform business now makes up 50% of all Axa Wealth’s individual sales, up from 39% at the end of the first quarter last year.
Commenting on the results, Mike Kellard, chief executive of Axa Wealth said: “The markets may well be ‘schizophrenic’ in the words of the IMF, but Axa Wealth is still experiencing strong appetite from investors who, I believe, can see the long-term value in the stock market.”
As well as continuing its programme of building new platform-based propositions for IFAs, Kellard confirmed it is to rename Architas funds “to make it easier for customers to understand what they are buying.” He added that further strategic appointments will be made in the coming quarter to add platform and investment experience to the existing team.
