FundsNetwork adds investment trusts to platform

Tablet-Technology-Computer-Business-700x450.jpgFundsNetwork has added a select number of investment trusts and broadened its range of ETPs on the platform.

From early December the platform will make the most popular investment trusts and exchange traded products available on the platform.

Among the investment trusts available will be those from Aberdeen, Baillie Gifford, Invesco Perpetual, and JP Morgan Asset Management. The platform has also made available ETPs from ETF Securities, HSBC, iShares and Vanguard.

“We have seen demand for investment trusts as well as ETPs grow steadily since the implementation of RDR.

“Our plan to launch a range of investment trusts and broaden the number of ETPs on FundsNetwork later this year sees us responding to this demand and demonstrates our clear intention to support the evolving needs of advisory firms and their clients,” says Pat Shea, head of FundsNetwork.

“We have seen demand grow from both private investors and advisers who are looking to benefit from investment companies’ strong long-term performance, unrivalled income track record and suitability for alternative, illiquid assets,” says Ian Sayers, chief executive of the Association of Investment Companies.

The new services will cost 0.25 per cent for the standard service fee, an annual investor fee for new purchases of £45 and a 0.10 per cent dealing fee.

FundsNetwork will also add a full brokerage service for advisers next year, as part of its development of the platform.