LONDON (Reuters) - Wrap platforms are growing in popularity. Here are five facts about them:

* The original idea can be traced back to the development of "wrap accounts" in the U.S. in the 1970s.

* In the 1980s, "master trusts" were launched in Australia and have since flourished in New Zealand and South Africa.

* The inception of wraps in Britain dates back to 1999 when ObjectMastery Development, one of the leading providers of master trusts in Australia, introduced Transact -- Britain's "first integrated portfolio service".

* Since then, a string of providers, both life insurers and independent firms, have entered the market.

* The market itself is unregulated, although underlying fund providers and advisers are.