The Investment Management Association launched the mixed investment 0-35 per cent shares sector last week.
The sector had originally been planned for launch alongside the other multi-asset sectors at the start of the year but low demand resulted in a delay.
The IMA has added 13 funds to the sector, three above the minimum 10 required for a sector launch.
The funds include four from 7IM, three from Fidelity, three from Barclays, one from Axa, one from City Financial and one from Jupiter.
The funds are required to have up to 35 per cent invested in equities and at least 45 per cent in investment-grade fixed income and/or cash.
There should be a minimum of 80 per cent investment in established market currencies, which are the US dollar, sterling and euro.
Forty per cent of the fund must be sterling. The sterling requirement includes assets hedged back to sterling.
Lift Financial joint chief executive Joel Adams says: “I do not see the point in having a sector with 13 funds in it. It is too niche. It is too specific for me to look at as a sector. The fact that the sector is dominated by certain players devalues it.”
Bestinvest senior investment adviser Adrian Lowcock says: “A new sector needs time to establish. The fact that there are not many funds in the sector gives fund management groups an opportunity to expand into it.”