Total investment company purchases reached £147m, a 53% increase on the corresponding period in 2012 when purchases were at £96m. Six platforms provided the data on investment company purchases, namely Transact, Nucleus, Ascentric, Raymond James Investment Services, Elevate and Novia.
Ian Sayers, Director General, Association of Investment Companies said:
"It's encouraging to see such a strong increase in platform purchases by advisers, albeit from a low base. 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."
