I am writing in response to the article headlined, IFAs criticise IMA plan to scrap two equity sectors (Money Marketing, last week), in which your reporter quotes an IFA saying: “It was only a few years ago that the technology sector had only two funds in it.”
The technology and telecommunications sector has only been existence since May 2001 and was launched with 29 funds (currently 30).
The principal remit of the IMA's performance category review committee is to enable consumers to compare similar funds with ease and confidence.
We believe that eradicating duplication where possible and creating reasonably sized fund performance peer groups is an essential part of this process.
Head of communications
Investment Management Association,