AXA Wealth’s total funds under management (FUM) increased 9% to £32.2bn in the first quarter of 2016 from £29.7bn a year ago.
The company attributed the rise in FUM to increased pension sales following the pension freedom reforms.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Total assets at AXA Wealth’s multi-management division- Architas- surged 43% during the period to £20.4bn from £14.3bn in the year ago quarter.
Axa’s Elevate wrap platform, which is set to be acquired by Standard Life, has reported a 9% increase in its total assets to £10.8bn from £10bn a year ago.
Total assets at AXA Wealth pension and investment unit rose 17% to £11.8bn from £10.1bn in the prior year, while total assets at AXA Wealth International (AXA Isle of Man) stood at £9.6bn.
AXA Wealth’s total assets at the end of the first quarter of 2016 reached over £46bn, a 26% jump compared to £36bn during the same quarter in 2015.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAXA Wealth CEO Mike Kellard said: "Following the recent news from AXA UK ending the uncertainty over the last few months, I’d like to thank our people and our advisers for all their support toward helping make AXA Wealth such a strong and successful business. Over the coming months we will be working hard to ensure the transition to the new owners is as smooth as possible for advisers and their clients, ensuring continuity of service."
