FundsNetwork adds investment trusts to platform

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FundsNetwork has added a select number of investment trusts and broadened its range of ETPs available on platform.

From early December the platform will make the most popular investment trusts and exchange traded products available to advisers.

Among the investment trusts available will be those from Aberdeen, Baillie Gifford, Invesco Perpetual, and JP Morgan Asset Management. The platform has also made available ETPs from ETF Securities, HSBC, iShares and Vanguard.

FundNetwork head Pat Shea says: “We have seen demand for investment trusts as well as ETPs grow steadily since the implementation of RDR.

“Our plan to launch a range of investment trusts and broaden the number of ETPs on FundsNetwork later this year sees us responding to this demand and demonstrates our clear intention to support the evolving needs of advisory firms and their clients.

Association of Investment Companies chief executive Ian Sayers adds: “We have seen demand grow from both private investors and advisers who are looking to benefit from investment companies’ strong long-term performance, unrivalled income track record and suitability for alternative, illiquid assets.”

Investors using the new service will pay the standard service charge of 0.25 per cent, an annual investor fee for new purchases of £45 and a 0.10 per cent dealing charge.

FundsNetwork will also add a full brokerage service for advisers next year, as part of its development of the platform.