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FundsNetwork puts investment trusts listing on hold

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FundsNetwork puts investment trusts listing on hold

Fidelity FundsNetwork has put plans to list investment trusts on the back burner prioritising projects which meet more pressing adviser demands.

In 2012, it was reported that the platform was to list investment trusts ahead of the retail distribution review (RDR).

However, a spokeswoman for the platform said plans for investment trusts had been put on hold for the time being.

‘We have a busy delivery schedule, which has meant we have had to prioritise launches based on adviser feedback and need,’ she said.

She said the platform was ‘committed’ to launching investment trusts, but was ‘unable to commit to a specific date at the moment’.

FundsNetwork beat rival fund supermarkets Cofunds and Skandia to launching an unbundled proposition in April 2012.

It had previously announced plans to offer a range of exchange traded funds and investment trusts, it added ETFs to the platform in June 2012.

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