Ian Sayers, chief executive of the Association of Investment Companies, has welcomed Aegon's acquisition of platform Cofunds as more advisers will be able to access the investment trust sector.
The sale of Cofunds by Legal & General (L&G) to rival provider Aegon means it has become the industry's biggest platform. Aegon said the upgrade would benefit advisers in a number of ways and it would offer a broader investment range including exchange-traded funds, investment trusts, all FTSE 350 stocks and other stocks on request. Investment trusts have suffered in the past as many adviser platforms including the big three - Cofunds, FundsNetwork and Old Mutual Wealth - did not offer investment trusts and those that did only offered the sector's largest funds such as the £4bn Scotti...
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