IMA scraps Lipper for Morningstar to provide funds data

The Investment Management Association (IMA) has appointed Morningstar UK to monitor funds across its sectors.

Morningstar will start providing data from 1st October after the IMA ended its near decade long deal with Lipper. The trade body for the UK's £3trn asset management industry said it opened the bid to welcome a fresh approach to its fund categorisation process after collaborating with Lipper since 2002. Jane Lowe, director of markets at the IMA, said: "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." As part of the new tie-up, the IMA said it will c...