AXA Wealth net new business up 18%

AXA Wealth's net new business rose 18% to £1.1bn for the first half of 2011, with the group benefitting from last year's strategic review which lead to a focus on this part of the business.

Funds under management for AXA Wealth rose by 5% to £18.9bn over the period Meanwhile, underlying earnings improved significantly to £69m, up on June 2010's comparable scope of £13m. During the period, AXA Wealth agreed a seven year partnership with Co-operative Bank to provide financial advice and wealth solutions to the bank's five million retail banking customers across its branch network. Alongside its existing partnerships with Yorkshire and Clydesdale Banks, AXA Wealth now has exclusive distribution to 7.7 million bank customers with 500 branch based advisers Paul Evans, A...