Axa

AXA Wealth has announced former Skandia strategy manager Kate Randall-Coles is to take over from Graham Bentley as head of fund group relations.

FIXED INCOME

AXA Framlington's Mark Hargraves is to take over management of the group's Global Opportunities fund as Mark Tinker becomes Asia business head.

Tineke Frikkee has bought into Lloyds as a play on the housing recovery, in one of her first trades since joining Smith & Williamson to run its £9m UK Equity Income trust.

BIQ QUESTION

Platform providers who are overcharging for propositions are finding the "the noose is tightening" around them, according to a new pricing guide.

AXA Wealth's total sales increased by 68% over the first six months of the year, while the firm saw strong growth in assets on the Elevate platform and specialist multi-manager business Architas.

The percentage of assets going into clean share classes on the Axa Elevate platform has reached 56%, having more than doubled since the start of the year.

Axa Wealth has appointed Skandia's former head of proposition Graham Bentley as its interim head of fund group relations.

Axa Portfolio Services - the parent company of the Axa Elevate platform - has reported a pre-tax loss of £29.9m for the year ending 31 December 2012, representing a 10% improvement on the £33.5m loss recorded for 2011.