View more on these topics

Overdue review of IMA fund sectors is welcomed

Advisers have welcomed the IMA’s fund sector review.

Hargreaves Lansdown head of research Mark Dampier says it has a headache in splitting sectors but the result could make them more pertinent and accurate in terms of performance. He says: “Some of the sectors are in a complete mess so a change is needed. Top quartile in the specialist sector tends to mean nothing, given the diversity of funds. The same can be said for the UK all companies sector which has a wide range of funds.”

Chelsea Financial Services managing director Darius McDermott says the UK all companies and specialist sectors need particular attention.

The IMA needs to establish what qualifies as a sector in terms of the number of funds. The likes of global equity income need a sector but there are others that perhaps have only five or six funds and a sector does not seem worthwhile.”

Bestinvest senior investment adviser Adrian Lowcock says: “This is long overdue and the results should hopefully be to the benefit of the client. We have seen confusion over the sectors in recent times, most notably with what has happened in the UK equity income sector.”

Recommended

CONTEXT.jpg

Out of context

“I’ve managed to persuade Aston to join us from his holidays. He can’t resist a tap dancer in tight trousers.”MGM’s Lynsay Dickinson lures director of sales and marketing Aston Goodey to Tap Dogs the musical. “Just lie on the deck and you’ll be fine.”Skipper on board a sailing trip with Honister Capital in Cowes gives […]

Toby-Strauss.jpg
1

Toby Strauss

Aviva UK’s life and pensions chief executive Toby Strauss has helped to revive the company’s wrap and is now busy assessing the Government’s new pension proposals with an eye to filling the Nest gap if the planned scheme is scrapped Interview by Helen Pow.

Pension tension as coalition cracks appear

Nigel Waterson says political tensions in the coalition means the new Government is working to a reduced timescale for pension reform. He said the tension between the Tories and the LibDems make it unlikely that the Government will last the full term. Waterson said: “In the world of pensions, we may have swapped a four […]

E&Y sends Lifemark valuation to CarVal

Ernst & Young has undertaken an actuarial valuation of Lifemark’s traded life settlement assets and has submitted it to US hedge fund CarVal, which is considering offering a lifeline restructure deal to the group. The Luxemburg office of KPMG – Lifemark’s provisional administrator – has handed the valuation to CarVal which is in the final […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com