The Investment Association's plans to reorganise the Unclassified sector may lead to advisers reaching "dubious conclusions" on funds, according to Old Mutual Global Investors' John Ventre.
The IA is proposing to reduce the number of funds in the Unclassified sector, which currently totals almost 200 following the increasing number of firms now launching 'outcome-focused' products. The trade body is consulting on whether it should establish a distinct sector for outcome-focused funds, or alternatively whether a more "radical" sector reorganisation is required. The second option would see all sectors grouped under either ‘asset-based' or ‘outcome-based' categories. Ventre (pictured) runs four different ranges of multi-asset funds for OMGI, the majority of which sit in ...
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