After much speculation about the impact of RDR, investment company purchases on platforms by advisors and wealth managers surged by 53% in the first six months of 2013 in comparison to the same period in 2012, according to a report published by the Association of Investment Companies (AIC).
According to the report, total investment company purchases reached £147 million between January and July this year, compared to £96 million worth of sales in first of 2012.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The UK Growth & Income and Global Growth sectors were the most popular sectors, accounting for a combined 32% of investment company purchases, the AIC study found.
Ian Sayers, director general of AIC, said: "The data backs up the positive anecdotal feedback we have been receiving from investment company managers. The AIC has seen a strong increase in adviser interest in investment companies this year. In 2012 we trained 813 advisers compared to over 1,100 over the year to date, with many more advisers signed up for training this autumn.
"We realise there’s a lot more work to do, but we are heading in the right direction. Advisers are much more engaged with the sector than we have seen in the past, with many attending training sessions to find out how they can include investment companies in client portfolios."
Six platforms provided the data on investment company purchases, namely Transact, Nucleus, Ascentric, Raymond James Investment Services, Elevate and Novia.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
