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Axa Wealth Int’l sees sales increase 14%

By International Adviser, 24 Oct 14

Sales increased by 14% during the third quarter for Axa Wealth International, despite “difficult market conditions”.

Sales increased by 14% during the third quarter for Axa Wealth International, despite "difficult market conditions".

The company said total sales were £646m, this compares with £567m in the same period last year. Funds under management also grew 6% from £8.8bn to £9.3bn.
 
Managing director of Axa Wealth International, Mike Foy, said providers that distribute their international products through platforms, in addition to traditional distribution channels, “have been the bigger winners” in 2014.
 
Foy also said that he expects the proportion of international bonds that are written on platforms to reach the 50% mark in coming years.
 
“As such we have been working with advisers and platform providers, including the Axa Wealth Elevate platform, to make investing in international bonds through a platform easier, while maintaining our commitment to the off-platform market.”
 
He added: “At a time of difficult market conditions and a weaker than anticipated recovery of global financial markets, Axa Wealth International sales and fund under management continue to grow.”
 
As a whole the company’s sales were up 3% to £2.5bn within the past year, and had seen overall funds under management grow by 10% from £24.6bn to £27bn.
 

 

Tags: Axa

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.