AXA Wealth's pension sales up 18% and FUM hit £26.7 billion
AXA Wealth has reported that its funds under management grew 10 per cent to £26.7 billion in the last 12 months.
Announcing its half year 2014 financial results today it said there was strong growth across the business.
This included AXA Wealth's total retail sales going up four per cent to £1.6 billion, with pension sales up 18 per cent from £201 million to £238 million.
Funds on AXA Wealth's Elevate platform went up 31 per cent to £8.4 billion and Architas assets totalled £13.3 billion.
Inflows on to the platform increased by eight per cent to £1.1 billion.
Funds under management for the remaining AXA Wealth pensions and investment range totalled £18.4 billion. Assets have also increased for Architas, AXA Wealth's specialist investment business, up six per cent from £12.6 billion to £13.3 billion.
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Mike Kellard, chief executive of AXA Wealth, said: "We've managed to deliver another strong performance across the business.
"There is however still a lot to do if we are truly going to help more people save and invest for the long-term and make the experience as straightforward as we can.
"The Budget has transformed the way we all plan for retirement, and recast what retirement means to the great majority of the population.
"We are all living longer, our expectations and aspirations are different to our parents and our role in helping our families live hopefully healthier, wealthier lives is changing too.
"Our own research shows that as an industry we still have lots to do to convince people of the need to save. My commitment is to do all we can to make investing as simple and intuitive as we possibly can."