IMA readies delayed fourth Managed sector

The IMA could be ready to launch its delayed fourth Managed sector in the coming months, following a pick-up in interest from fund groups.

Last week saw the launch of three new sectors – Mixed Investment 20-60% Shares, Mixed Investment 40-85% Shares, and Flexible Investment – which have been  populated with funds in the now defunct Cautious, Balanced and Active Managed sectors. However, despite the IMA announcing in November there would be a fourth sector, Mixed Investment 0%-35% Shares, there were not enough funds to launch the group on 1 January. Just eight funds initially applied to be part of the sector, including the £469m AXA Defensive Distribution fund run by Richard Marwood (pictured), but the IMA said it will on...