Wealth managers: How we would rejig the IMA sectors

WEALTH MANAGERS

Charlotte Richards asks a quartet of wealth managers whether the IMA sectors are fit for purpose and what improvements the trade body should implement.

Earlier this year, Investment Week reported that leading fund managers were calling for the Investment Management Association (IMA) to make drastic changes to the way it categorises funds. Some even went as far as saying it should no longer be responsible for sector names and definitions, and called for the trade body to appoint an impartial organisation to oversee the task. Sectors such as the recently reviewed Mixed Investment group, Absolute Return, Specialist and £ Strategic Bond have been under particular scrutiny from managers as their broad definitions have meant there is a vast d...