Will 2012 see the return of 'vapourware'?

Whether one considers the massive gains made by Cofunds in the institutional space or the accelerating march of the wrap sector, 2012 has been another year of notable progress. Perhaps more than anything we have begun to see widespread acceptance of therapidly-maturing unbundled wrap model. And no wonder. After all, transparency is the core RDR theme and platforms operating as opaque distributors for fund managers are now running out of steam. An observation that was surely crystallised when net inflows into the wrap sector exceeded those for retail fund supermarkets for the first tim...