IMA launches 0-35% mixed investment sector
The Investment Management Association has launched the mixed investment 0-35 per cent shares sector, after it was delayed earlier this year due to lack of demand.
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, above the minimum 10 required for a sector launch.
The sector’s funds include the 7IM AAP Moderately Cautious fund, 7IM Moderately Cautious fund, CF 7IM Income, CF 7IM Personal Injury, AXA Defensive Distribution, Barclays High Income Portfolio, Barclays Income Portfolio, Barclays Wealth Global Markets 1, City Financial Diversified fund, Fidelity Multi Asset Allocator Defensive fund, Fidelity Multi Asset Defensive fund, Fidelity Retirement Income fund and Jupiter Distribution fund.
The funds in the sector are required to have a range of different investments with up to 35 per cent of the fund can be invested in equities. At least 45 per cent of the fund must be in fixed income investments and/or “cash” investments.