It revealed in a press release last month that this figure was up 46 per cent on £679m in 2016 and 41 per cent higher than the previous record of £704m in 2015.
Ian Sayers, chief executive of the AIC, explained: “Advisers are recommending investment companies due to their strong long-term performance and dividend record, innovation through new asset classes and the durability of the investment company structure.”
Rebecca O’Keeffe, head of investments at Interactive Investor, said: “Overall, where investment trusts exist in parallel with an open-ended fund it is essential that investors check the performance of both to see which one has the better track record.
“Investors who consider themselves to be purely ‘fund investors’ may be missing a trick by not expanding their horizons and looking at the range of available investment trust options, but equally investment trust fans should also keep their options open too.”
Only 5 per cent of those who voted in the poll claimed the split-cap crisis, which was investigated by the financial services regulator in 2002, was the reason they do not recommend closed-ended funds to clients.