Update: FundsNetwork signals IT push by offering Woodford trust


Fidelity FundsNetwork is to make Neil Woodford's Patient Capital trust the first externally-managed IT available on the platform, in what it says is a "clear intention" of more to come.

The platform's investment trust offering is currently comprised of just five Fidelity trusts, but FundsNetwork said today it will give intermediaries access to the Woodford Patient Capital initial public offering (IPO) in the coming weeks. FundsNetwork users will then be able to buy and sell the trust on the platform once the IPO period has closed, a spokesman confirmed. The major advisory platforms are yet to offer third-party investment trusts to intermediaries post-RDR, despite plans to do so being mooted as far back as 2012. "It is our clear intention to build a scalable soluti...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Investment Trusts

abrdn's Bruce Stout said the most "corrosive" of all factors was the "tangible change in sentiment"

Discount narrows on Murray International as it delivers positive returns

9.5% share price total return

Kathleen Gallagher
clock 12 August 2022 • 2 min read
Rob Murphy, managing director of financials at Edison Group

Investment companies can provide returns despite market uncertainty

Increase exposure to ESG

Rob Murphy
clock 11 August 2022 • 4 min read
The Baillie Gifford US Growth trust is managed by Kirsty Gibson (pictured) and Gary Robinson.

Baillie Gifford US Growth returns drop over 45% but maintains strategy conviction

Discount at 12% from a premium in 2021

clock 09 August 2022 • 3 min read