AXA Asia Pacific Holdings Ltd
(ASX:AXA) says total funds under management, administration and advice grew by 7% in the second half to $81 billion.
In Australia total funds under management, administration and advice dropped 4% to $59.03 billion.
AXA says total Australia wealth management gross inflows fell 32% for the full year to $8.19 billion and AXA wealth management gross inflows fell 22% to $7.61 billion.
The company says 2009 was clearly a difficult year for wealth management although second half performance showed improvement over the first half.
Looking at New Zealand the company says total funds under management, administration and advice rose 2% to NZ$6.42 billion.
In Hong Kong total funds under management, administration and advice in increased 20% to HK$80.49bn.
And total funds under management and advice in its ipac Asia division added 1% to $898.8 million.
AXA Asia Pacific reported a loss of $279 million for 2008.
