Funds

ITs in 2014: Narrowing discounts and an income focus

Andy Pomfret, former chief executive of Rathbones, has joined the board of Interactive Investor as a non-executive director.

Alliance Trust has overhauled its equity team, with the loss of five roles expected to save £2m a year.

Retail sales at AXA Wealth were up 3% to £2.5bn in the third quarter, with funds under management hitting £27bn, while the group's platform saw assets grow by over a quarter year-on-year.

What benefits do investment trusts offer investors that ETFs do not?

Investors using direct to consumer platforms are now among the largest shareholders in investment trusts, as a post-RDR revival for the sector gets underway.

Investment trusts

Hargreaves Lansdown has said the low interest rate environment will continue to impact its revenues for the remainder of the year, with the business also ruling out any further moves on price for now as investor confidence wanes.

WisdomTree, one of the largest passives providers in the US, is to launch its first ETFs in the UK by the end of the year as part of its push into Europe.

Platforms must branch out to survive