Investments  

Trusts see post-RDR surge in platform sales

Figures compiled by Matrix Solutions Financial Clarity for the Association of Investment Companies shows sales of investment trusts through platforms were 53 per cent higher from January to June compared with the same period in 2012.

The research suggests the sector has seized the chance to capitalise on RDR requirements for whole-of-market advice, with a bigger uplift in sales than for Oeics and unit trusts in the first half of 2013.

The report also reveals that sales in the intermediary market rose to £113m by June, more than the total figure for 2010 and already 85 per cent of sales for the whole of last year. It follows a steady rise in sales in the past few years, rising from £142m in 2010 to £179m by 2012.

Article continues after advert

Total sales on platforms for investment trust companies currently stands at £147m.

The report also suggests that Transact and Ascentric have had the lion’s share of investment company sales among advisers during this period, at 65 per cent and 22 per cent respectively.

Overall, total platform sales across all types of investment fund have risen over the past couple of years from £34bn in 2010 to £46.6bn in 2012.

Adviser view

Robin Keyte, director of Somerset-based Keyte Chartered Financial Planners, said: “I have used investment trusts for years and while they are not right for everyone, the case is compelling.”