Investment company sales on platforms up 53% - AIC

Investment company purchases on platforms by advisers and wealth managers are up 53% in the first six months of 2013 against the same period last year, research by the Association of Investment Companies (AIC) shows.

Total investment company purchases reached £147m between January and July this year, compared to £96m worth of sales in H1 2012. The UK Growth & Income and Global Growth sectors were the most popular sectors, accounting for a combined 32% of investment company purchases, the AIC said. Director general Ian Sayers said: "It is 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 intere...