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ABI seeks firm to monitor funds

The ABI is putting out tenders for impartial information for the monitoring of investment classifications for life and pensions funds.

It has been using Lipper fund information but the contract is due to come to an end and a new three-year deal has been put out to tender.

Hundreds of IFA firms use the ABI statistics on fund data to compare performance of fund types, styles, sectors and countries. The ABI has developed classifications for life and pension funds.

The tender is open until 24 September. Firms should be able to provide information for advisers and consumers that allow for a like-for-like comparison to be made of funds.

ABI head of life and pensions Chris Kenny says: “We are keen to show the industry that funds are complying with the criteria. An independent monitoring company is paramount to this service.”

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