Investment trusts’ case has not been helped though by a lack of availability through the big adviser platforms. FundsNetwork has just announced it is to offer a limited range, but Old Mutual and Cofunds have yet to announce any plans to follow suit. Ms Brodie-Smith says, “They have been available on all the wrap platforms since day one, so it seems strange that they are not available everywhere.”
Any limited availability has not dealt a mortal blow to the vehicles though. Sales through platforms have trebled from around £200m three years ago to around £600m a year today. And FundsNetwork’s announcement is a definite positive according to Ms Brodie-Smith, who describes it as a “huge and encouraging step forward.”
Annabel Brodie-Smith’s 18-year career has been littered with changes to the sector she oversees, often driven by her, and this looks likely to continue. As she admits herself, that is what keeps her coming into work, “There is always something happening. That’s what makes it interesting and challenging. There is never a dull day.”
