Industry welcomes IA Property sector split for aiding 'rational comparisons'

Reaction from wealth managers and groups

The Investment Association's (IA) decision last week to divide its Property sector into two following an industry consultation, splitting out UK funds which invest directly in property, has been praised by fund buyers for providing more clarity for investors.

The IA's Sectors Committee made the decision to split the 62-strong sector, which has attracted criticism in the past, from 1 September 2018 in the hope of aiding like-for-like comparisons. It will now be divided into UK Direct Property and Property Other sectors. UK Direct Property will include funds investing directly in UK property such as student accommodation and commercial and residential property, while Property Other will include those investing in property securities, and direct funds with specialist mandates and hybrid funds.  Settling the nerves: Where now for commercial...