Investors rush to Woodford trust after Schroders deal

Just yesterday a report showed the mounting cost pressures on advisers coupled with a lack of faith in active management had helped fuel the rise in popularity of passive funds.

The investment trust sector saw buyers backing sticking with big names as Baillie Gifford’s Scottish Mortgage Trust, the largest in the UK market, secured the top spot.

This was despite a blip in performance which has seen its share price fall 10 per cent since the start of August and its NAV discount widen. The trust has since responded to this by buying back millions of pounds worth of shares.

Finsbury Growth & Income, the second best selling trust, is co-managed by Nick Train, also co-manager of the Lindsell Train Global Equity fund.

Interactive Investor acquired adviser platform Alliance Trust Savings from Alliance Trust earlier this year but last week it was announced Embark is to take over the adviser platform.

ATS' direct to consumer customers will stay with Interactive Investor.

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