Ian Sayers, Director General, AIC.
As we approach the end of 2013, only the most committed of Scrooges would not acknowledge that it has been a pretty good year for investment companies.
But what was the highlight for me? Performance, perhaps?
After all, looking at our latest research comparing the performance of investment companies to comparable open-ended sectors, you’d have every reason to think so. This research compares sixteen sectors in all, over 1, 5 and 10 years. And investment companies outperformed open-ended funds in 43 of the 48 periods.
Pretty impressive stuff, but not the highlight for me.
Discounts narrowing to their lowest levels for 8 years? No, not that either.
Or that purchases of investment companies through adviser platforms post RDR have reached a record high, more than 66% up on the same period last year?
Or that the net amount of money flowing into the sector reached a record high of £3.7bn, with record highs also for assets under management for the sector as a whole and VCTs?
No, for me it was undoubtedly in the Archers, when Tom announced he was going to see his financial adviser to talk about a ‘lucrative investment trust’.
And they say RDR hasn’t had an impact? Humbug!
So, with this endorsement ringing in our ears, it only remains for me to wish you, and most importantly the residents of Ambridge, a Merry Christmas and Prosperous New Year!