IMA creates Global Equity Income sector

The IMA will create a Global Equity Income sector with effect from 1 January 2012 and is looking at a European Equity Income sector.

The sector will accommodate funds that place at least 80% of their assets in global equity. The IMA is also exploring the possibility of creating a European Equity Income sector, but said at present there are an insufficient number of European Equity Income funds to populate such a sector. An IMA spokeswoman said the organisation requires at least 10 eligible funds before it is able to create a new sector. The moves follow a review of funds in existing IMA sectors that take income from non-UK equity, launched in July 2011 and a consultation with members. Annually, at the fund's ...