Axa Wealth sees Elevate sales surge 107%

Axa Wealth platform sales on Elevate increased 107% in H1, bringing total platform assets under administration at the end of Q2 to £2.9bn.

Elevate sales rose to £772m to reach 40% of all sales on Axa Wealth - up from 21% for the same period last year.

Strong results from Elevate, in addition to the company's multi-manager offering Architas, helped push total AXA Wealth sales to £1.9bn. Architas saw total assets increase 48% to £8.6bn

The group's ISA business was a particularly strong performer in the period, with sales growing 112% to £320m.

Meanwhile, Axa Wealth assets under management increased from £15.6bn to £18.9bn.

Additionally, funds under management for individual off-platform pension products grew from £4.1bn to £4.8bn and funds under management for corporate investment services rose from £2.2bn to £2.5bn

Bancassurance volumes were up 25% to £210m, as partnerships with Clydesdale and Yorkshire Banks and Britannia Building Society helped grow volumes.

In July, AXA Wealth won a new seven-year bancassurance contract with Co-operative bank.

"AXA Wealth has continued its strong start to 2011, with further significant growth in on-platform sales, and other strategic product areas including pensions and bonds," said CEO Mike Kellard (pictured).