Purchases of investment companies by advisers and wealth managers on platforms increased by 29% in Q2 2014 in comparison with the second quarter of 2013, according to the report commissioned by the Association of Investment Companies using Matrix Solutions’ Financial Clarity.
Purchases of investment companies in Q2 2014 reached a record high of £120.9m, compared with £93.7m in the same period a year previously.
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Furthermore, purchases of investment companies in the twelve months to June 2014 reached £422.9m, a 48% increase on the twelve months ended June 2013 (£285.9m), and up 112% on the twelve months ended June 2012 (£199.3m). Sales of investment companies decreased slightly in Q2, to £72.1m from a high of £77.3m in the previous quarter.
Ian Sayers, Director General of the Association of Investment Companies, said: "It’s very encouraging to see that annual adviser purchases of investment companies through adviser platforms have more than doubled since RDR was implemented.
Adviser purchases of investment companies have increased every quarter but there is still plenty of demand for training. This autumn our adviser education programme continues with online and face-to-face seminars and we have recently launched a new introductory guide on investment companies."
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By GlobalData- The Global and UK Equity Income sectors were again the most popular for advisers and wealth managers, accounting for 18% and 16% of the total purchases of investment companies in Q2 respectively. The next most popular sectors in Q2 were Infrastructure, Property Direct – UK and Global Emerging Markets.
- Transact and Ascentric continue to be the top platforms for investment company purchases, with market shares of 46% and 22% respectively in the first half of 2014. Alliance Trust Savings is third with 17% of the market share.
- Total purchases through platforms in Q2 2014 were at a record £23.4bn, a 6% increase on Q1 2014 (£22.1bn).
