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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.”



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