Platform flow data from the Association of Investment Companies (AIC) found investors favoured the Property Direct - UK sector in the third quarter, leading it to become the most popular sector for the first time.
The sector accounted for 15% of all adviser and wealth manager investment company purchases from July through to August, with many taking advantage of widening discounts in the wake of the Brexit vote. Funds in the closed-ended UK Property Direct - UK sector saw discounts widen to an average of 14%, and some larger funds were trading on discounts in excess of 20%. It was also the first time the sector has exceeded a 10% share of all purchases, the AIC said. The next most popular sectors were UK Equity Income (14%), Global (11%) and Infrastructure (8%) and UK All Companies and UK ...
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