Purchases of investment trusts on adviser platforms fell by nearly a third in 2023 as inflation and interest rate rises battered net asset values.
Purchases totalled £948mn last year, down 28 per cent from 2022’s record high of £1.3bn, according to data from the Association of Investment Companies, a trust industry body.
Net demand for investment trusts on platforms such as Transact, Fidelity Adviser Solutions, M&G and 7IM was negative for the first time since records started in 2011, with sales exceeding purchases by £53mn. In 2022, net demand reached an all-time high of £474mn.
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