IMA reviews categories

committee to look at DISTRIBUTION SALES definitionS following growth of third-party channel

The IMA is reviewing its definitions of distribution sales channels as it cannot accurately categorise the source of its members' business . A working group of six to seven people has been established and the committee is to be chaired by Jim Roberts, director of investment at Skandia, with the first meeting taking place early this month. Problems have been escalating over what fund groups classify as retail or institutional sales and the development of fund supermarkets is making it difficult to establish what percentage of business is coming via them or direct from intermediaries. I...