The Association of Investment Companies needs to do more to promote investment trusts and push its members to make information more easily available to advisers, according to Transact managing director Ian Taylor.
Speaking at the Money Marketing investment trust round table, Taylor said the AIC does not have a good track record in terms of allowing advisers access to investment trust information and helping to ease the trading process.
Taylor said: “It is so much easier to buy, sell and get information about Oeics and I have to say the AIC has not done a good job about moving that forward. It is still quite difficult to find information about investment trusts which is useful and easy to manipulate in the way you can with Oeics.”
Hargreaves Lansdown head of research Mark Dampier agreed about the lack of quality information but blamed individual groups rather than the AIC, saying many were below par in this area.
Dampier said the AIC is doing a good job of promoting investment trusts and in many ways is better than the IMA. He said: “The AIC does a good job, better than the IMA most of the time. It is much more proactive, they do go out there. But what else can they do?”