Data from Association of Investment Companies has revealed a 23 per cent increase in adviser and wealth manager investment company platform purchases at the start of 2014 compared with the start of 2013.
Sales of investment companies in this quarter also reached a record high of £77.3m, AIC research with Matrix Solutions’ Financial Clarity, showed suggesting some advisers and wealth managers are taking profits and rebalancing portfolios.
Total purchases of all products through adviser platforms for the first quarter were at a record £21.7bn, a 9 per cent increase on the fourth quarter of 2013.
Ian Sayers, director general of the AIC, said: “It is encouraging that the first quarter was another record quarter for investment company purchases on adviser platforms.
“Though sales have increased, we should remember that this trading activity all helps to improve liquidity. Demand for adviser training remains high, and the AIC has a busy training programme planned for the autumn.”
