Sales of low-cost tracker funds hit a record high in the first quarter of 2012 with investors pouring £661 million into these vehicles, according to figures from the Investment Management Association (IMA).
A shareholder activist society is urging investors to vote against the Edinburgh US Tracker investment trust’s proposal to convert itself from a tracker fund into an actively-managed fund.
Sales of funds through stocks and shares Isas plunged 50 per cent in the last tax year as investors continued to shy away from the volatile stock markets.
Hedge fund Laxey Partners was defeated at Alliance Trust’s AGM, with around 80 per cent of the trust’s shareholders voting against its proposals to improve investment performance.
A potential mis-selling scandal where financial advisers recommend the cheapest, rather than the most suitable, investment fund to their client so they can add large advice fees on top has been highlighted by a wealth manager.
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