112% rise YoY in UK adviser purchases of closed ended funds

Figures from the UK Association of Investment Companies (AIC) suggest that net flows to listed investment companies (closed ended funds) via advisers and wealth managers using platforms rose over 100% to £260.8m in the second quarter this year, taking the annualised rate of purchases to a new high of £607.9m.

The data even suggests that there was a doubling in platform based purchases between the first and second quarters this year – they were £125.4m in the earlier period.

First half purchases via platforms of funds represented by the AIC have hit £386.2m, which is already more than that seen for the whole of 2013. Contributing factors for the growth include new product launches, such as Woodford Patient Capital, but also interest in sectors across the board, inculding direct UK property. The AIC said that the hedge fund and global emerging market sectors were the ones that lagged others in terms of net new sales.

The AIC also noted a 24% quarter on quarter rise in the number of adviser and wealth management firms in the UK purchasing investment companies.


Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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