View more on these topics

Aberdeen looks to switch fund back into UK equity income sector

Aberdeen co-head of multi-manager Aidan Kearney says the firm is likely to ask the Investment Management Association to move its UK income fund back into the IMA UK equity income sector in March.

Kearney says the fact the £31m fund, which the IMA placed into the UK equity income and growth sector in March 2009, invests almost totally in the UK equity income sector means it is logical to ask for the move once it has completed its one-year tenure in the sector in March this year.

He says: “The important thing was it did not have an impact on our process but you have to consider that within the Aberdeen multi-manager income fund only one underlying holding was in the UK equity income and growth sector in the shape of Neptune income.”

Recent research by Money Marketing found that only one of the 18 funds sitting in the IMA UK equity income and growth sector failed to meet the yield requirement for the IMA UK equity income sector of 3.43 per cent, which is 110 per cent of the FTSE All-share yield on January 12, 2010.

Invesco Perpetual head of distribution Ian Trevers says: “It has become apparent that the split is not helping advisers or their clients and is unnecessary. We look forward to working closely with the IMA to ensure a more relevant, less confusing situation is implemented to the benefit of all.”

Recommended

1

Mandelson wants sense of proportion from FSA

Business Secretary Lord Mandelson has called for “a sense of proportion” at the FSA and urged the regulator to take a step back and work with the EU to collectively define the regulatory system.

The transition to adviser charging

There has been much debate about adviser charging since the FSA issued its consultation paper last June. In fact, there has been a lot of debate about whether the RDR will happen, given a potential change of government and possibly regulator. The way I read it is that, even if the name above the door […]

The FCA’s five fixes for retirement information

The Financial Conduct Authority (FCA) has started to change the way that people will be told about their pension options. In a recent market study paper, they lay out their final proposals on the information that should be delivered to people approaching retirement and how it should look and feel. During 2015, there will be […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment