AXA's healthy flows
Speculation about acquisition moves by first AMP and then the National Australia Bank did not harm AXA Asia Pacific’s fund flows in the first quarter of this year.
In an announcement released to the Australian Securities Exchange today, AXA Asia Pacific Holdings Limited revealed solid growth in Australia and New Zealand, with wealth management inflows in Australia up 2 per cent to $1.5 billion, including $124 million in North sales.
It said total wealth management inflows including Alliance Bernstein were up 41 per cent to $2.2 billion, with total Australian individual financial protection new business up 12 per cent to $23 million.
AUTHOR
Mike Taylor
Recommended for you
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
ASIC has cancelled the AFSL of Sydney-based Arrumar Private after it failed to comply with the conditions of its licence.
