AIC director general: 'Logical' to put trusts into open-ended sectors

Ian Sayers, director general of the AIC, has suggested trusts be integrated into the Investment Management Associates' (IMA) open-ended investment company sectors.

Sayers said closed-ended vehicles and OEICs with comparable asset allocations should be placed in the same sectors to level the playing field in a post-RDR environment. He added investors and IFAs should pick their investments based on a portfolio’s asset allocation, instead of overlooking investment trusts because of their more complex nature. “One of the key things RDR is attempting to do is to get advisers moving away from looking at the product and instead look at what the particular portfolio is investing in, whether it be closed or open-ended,” said Sayers. “A way of ensur...