Fidelity Investment’s platform FundsNetwork has extended its range of investment trusts by more than a third, as assets under management in the investment trust sector reach record highs.
FundsNetwork now has 91 investment trusts, following the addition of 25 new companies, and 80 exchange traded products.
The investment trust providers now with products listed on the Fidelity platform now include Allianz Global Investors, Artemis Investment Management, BACIT Investments, CG Asset Management, F&C Management, Greencoat Capital, Henderson Global Investors, Impax AM, Jupiter AM, Standard Life Investments and TwentyFour AM.
The group has also added two new trusts from both Baillie Gifford and JP Morgan AM, which are already on the platform.
The news comes as the investment company sector’s total assets under management reached a new record high of £141bn at the end of June 2016, having almost doubled in a decade, according to data from the Association of Investment Companies.
At the end of June 2006, the investment trust sector had £76bn assets under management.
The largest investment trust sector is global, according to AIC, with £22bn assets under management, followed by property and private equity, which both have £13bn.
Fidelity International head of fund partners Danny Wynn says: “We have continued to see a steady uptick in demand for investment trusts since we introduced these vehicles on FundsNetwork last year.”
Last year, FundsNetwork enhanced its IT offer by adding 54 of the most popular trusts in the market as well as broaden its range of exchange traded products.
In January, the range saw an additional 12 investment trusts from Aberdeen, Baillie Gifford, JP Morgan Asset Management and 16 ETFs and ETPs from ETF Securities, HSBC, iShares and Vanguard.