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AITC planning wrap platform

Investment trusts are set to become available on a wrap platform being developed by the AITC.

It is working on a technology package that will enable intermediaries to access a range of investment trusts instantly.

Director general Daniel Godfrey says a wrap product, similar to that developed by Transact, is being developed.

It would be the first of its kind for the investment trust industry, following the wave of wrap products that are being introduced for unit trusts.

Sway director and former Chase de Vere investment director Graham Hooper believes that the key to expanding sales of investment trusts is to get them on wrap platforms.

The AITC says there is no timescale for development of the platform and it will not be launched until software can be fully developed.

Hooper says: “The problem is that people are not buying equities and are not buying funds off their own back so the challenge is to improve the way that IFAs have access to them.”

Godfrey says: “We have provided initial support to other wrap providers and this has been more successful than we expected. We continue to examine the possibility of launching a consumer-based platform to enable consumers to hold investment trusts. It would be there for the consumer and the IFA. It will enable to them to see the trusts they have and access them in Sipp or Isa-type products. I am conscious that if we do that, it has to work and that it has got to be effective.”


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