This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM-Cover-Small-210814.jpg
Categories:Investments

IMA's new sector gets a mixed response

  • Print
  • Comment

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.”


  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick



Poll

Do you think interest rates will rise before the end of the year?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments