Demand for investment trusts have led to a record first quarter for adviser platforms with £368m of the asset class purchased, up 22% from the previous record.
The data, compiled by Matrix Financial Clarity, showed there were 1,730 adviser firms and 51 wealth managers buying investment companies between January and March this year. This is the highest number since a jump in Q3 2016 following the EU referendum and the suspension of several open-ended property funds. The most popular sectors for adviser platform purchases in Q1 2021 were Global (18% of purchases), UK Equity Income (7%), Global Smaller Companies (6%), Infrastructure (6%), Flexible Investment (5%) and Property - UK Commercial (5%). Net demand for investment companies on advise...
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