View more on these topics

Investment trust sales hit record high as private equity surges

Investment trust sales by advisers and wealth managers on adviser platforms hit a record high in the first half of 2017, up 74 per cent on the first half of 2016, the highest figure ever for the first six months of a year.

In the first half of 2017 investment trust sales reached £514m, compared to £296m in the same period last year, research by the Association of Investment Companies and Matrix Financial Clarity shows.

Global, property direct UK and UK equity income were the three most popular sectors, accounting for 15 per cent, 13 per cent and 11 per cent of sales respectively. Private equity sat in fourth place with 6 per cent of purchases, marking the sector’s highest ranking and largest share of sales.

The main adviser platforms used for investment company purchases in the first half of the year were Transact (40 per cent market share), Alliance Trust Savings (24 per cent), Ascentric (16 per cent) and FundsNetwork (8 per cent).

Ian Sayers, chief executive of the AIC, says: “It’s clear that advisers are not only recognising the benefits of investment companies for equities but are increasingly aware of the strength of the closed-ended structure for accessing illiquid assets.

“The property direct – UK sector has been popular since the problems of open-ended property funds last year, and it’s interesting to see that the private equity sector, one of the few ways investors can access portfolios of unquoted companies, is gaining adviser interest.”

Recommended

Boardroom-Hire-Hiring-Appointment-General-700x450.jpg

Chase de Vere acquires specialist financial planning firm

Chase de Vere has acquired specialist financial planning firm Medical Money Management. The firm, which advises medical and dental professionals, has eight offices ranging from Exeter to Glasgow. 30 IFAs will join Chase de Vere through the acquisition alongside another 50 staff. Chase de Vere did not disclose the cost of the deal. Medical Money […]

fee template

Asset managers brace for fee template as FCA unveils plans

A new FCA committee has set the timeline for its fee template for asset managers as it publishes details of how it will go about its analysis. Money Marketing earlier this week the disclosure working group set up by the FCA following its final report into the asset management industry was about to set out the objectives […]

Aegon-Logo-Building-2012-700x450.jpg
2

Aegon plans Cofunds office closure

190 people are currently employed at the Hove office Aegon is planning to move Cofunds’ services that currently run from Hove to its office in Witham. It is expected the Hove office will close by mid-2018. The Hove office runs the investor portfolio service, which lets advisers and customers manage their investments online. There are […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment