Ian Sayers, the AIC’s Director General, picks a surprising highlight of 2013
~~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?
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?
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!