IMA to launch global equity income sector

The Investment Management Association is to establish a global equity income sector from January 1, 2012.

The move follows the trade body’s review of funds in July and will include funds with at least 80 per cent of their assets in global equities.

Funds in the sector must be “diversified by geographical region and intend to achieve a historic yield on the distributable income in excess of 110 per cent of the MSCI World index yield at the fund’s year end”.

It is also looking at the establishement of a European Equity Income sector, but there are currently not enough funds to populate a new sector.