Assets on wrap platforms rise by a third, says iShares
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BlackRock’s exchange-traded fund (ETF) provider iShares has reported a 34% rise in assets held on wrap platforms during 2011 to £746m.
David Bower
Of the six platforms, assets grew most substantially on Ascentric and Novia, by 88% and 96% respectively while the two most popular ETFs were fixed income products.
The iShares Markit iBoxx £ Corporate Bond 1-5 ETF was the highest selling product, taking £42m in net flows, followed by the iShares FTSE Gilts 0-5 ETF which took £34m.
Six of the top ten selling ETFs were equity products, the highest selling being the iShares FTSE EPRA/NAREIT Developed Markets Property Yield ETF with net inflows of £18m.
David Bower, head of iShares UK, comments: “The ETF industry is set to become a major beneficiary of the RDR, and this is already evident from the strong growth iShares saw on key wrap platforms in 2011.
“With the banning of commission to financial advisers as of 2013, ETFs will be on a level playing field with other investment products.”
He adds: “During 2012, iShares will introduce a number of new initiatives to spread awareness of ETFs further and to assist advisors in developing greater expertise around how to use them.”
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