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IMA appoints Morningstar UK to monitor fund sectors

Morningstar UK has been appointed by the IMA to monitor funds classified to the sectors. Morningstar UK replaces Lipper as the appointed IMA sector monitoring company, effective from October 1.
Morningstar UK will provide an analysis of the portfolio holdings of each fund in the IMA sectors to ensure each fund meets the parameters of the sector and is comparable with other funds in that sector. Morningstar UK will also alert the IMA to any breaches, where a fund’s holdings fail to meet sector requirements.
In addition, the IMA will work with Morningstar UK and member firms to develop reporting and analysis for monitoring funds that use derivatives.
IMA director of markets Jane Lowe said:“We look forward to working with Morningstar to ensure the continuing integrity of the sector classification scheme.”
He says: “Our original motive for putting out a tender was to get new ideas. Morningstar impressed us with their innovative thinking, particularly in assessing those funds that use derivatives.”



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