Blue Sky slams IMA warning on structured products
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According to the structured products provider, the IMA’s comments are simplistic and misguided and do not provide a full or relevant picture of the structured investments sector.
BSAM says the fact that fund managers at IMA member firms are increasingly investing in structured products highlights the flaws in their assertions.
BSAM chief executive Chris Taylor says: “It is interesting to see the IMA make these comments, but we do unfortunately feel that they have missed the broad point. We also question the objective behind the press release, as it doesn’t appear to serve either investors best interests, or indeed IMA member firms themselves.
“The IMA would perhaps be better advised to focus on its own shortcomings, in terms of meeting investors’ needs, rather than attempting to highlight shortcomings elsewhere.”
BSAM believes that effective financial planning relies on differentiation and says both mutual funds and structured products have a valid part to play in a client’s portfolio.
Taylor says: “There are stellar performing funds in the traditional mutual funds world just as there are superior structured investment providers and products in the structured products industry. Differentiation is the key word for advisers and investors, not sweeping statements.”
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