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ABI adds fourth managed sector to classifications


The Association of British Insurers&#39 has added a fourth managed sector to its investment classifications.


The &#39Defensive Managed&#39 sector comes into effect on September 20, alongside the current Cautious, Balanced and Stockmarket managed sectors.


The new sector has been introduced to meet the needs of risk averse investors wishing to invest in equities.


Defensive Managed funds will have an equity investment limit of 35 per cent and a minimum requirement to hold at least 85 per cent in Sterling based assets.

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