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Stoakley says RDR will not boost investment trusts

Schroders head of UK intermediary Robin Stoakley says the RDR will not increase the take-up of investment trusts in the retail sector.

Investment trusts have been widely tipped to take a greater market share after the RDR as many IFAs have traditionally steered clear of them due to their lack of commission.

Stoakley says: “You have to look at other concerns like volatility of share price around asset value and also lack of liquidity. These are big prob lems that will remain unaffected by the RDR.”

Schroders has £1.5bn in assets across seven investment trusts. Stoakley says: “They are big in the institutional and discretionary asset manager areas but I think we will only see a small increase in the mainstream market.”

Association of Investment Companies communications director Annabel Brodie-Smith says: “The RDR allows investment firms to be viewed on a level playing field without the commission issue and their introduction on to platforms should also increase their popularity.”

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