Interactive Investor launches fund buy list

Interactive Investor launches fund buy list

Interactive Investor has launched a fund buy list as part of its push into the mass market.

The platform launched a list of 60 favourite funds, including investment trusts and Exchange Traded Funds (ETFs).

The funds are divided into low cost, core, income, smaller cap and adventurous options.

The firm said the underlying cost of an investment was considered when selecting the funds and it emphasised no fund house had given clients of Interactive Investor a discount in exchange for being included on the list.

Interactive Investor already had a fund buy list in the past but said the new list was more in depth to cater for the needs of its new, less sophisticated investors.

The firm bought TD Direct in 2016 and the Alliance Trust Savings platform in October last year.

Richard Wilson, chief executive at Interactive Investor said: "In a crowded investment universe which can be difficult to navigate, this list represents what we consider to be the best in class and comes with a steer on how these funds might fit into a portfolio. 

"Super 60 is the result of rigorous, intensive, independent research from interactive investor’s experts and we are proud to launch it. Super 60 is driven by unbiased, in-house research, not commercial relationships and this is absolutely paramount to us."

But Tom Sparke, investment director at discretionary fund manager GDIM, said: "We never pay attention to lists put together by providers as their methodology is often not stated and may not have the same priorities as we do.  

"There are concerns around objectivity too as the relationships or charging bases are not overtly disclosed."