Investment trust professionals have welcomed the Association of Investment Companies' (AIC) decision to introduce 13 new sectors and rename 15 others, in its attempt to more "accurately reflect the shape of the industry today".
The changes, announced last week, follow a year-long, industry-wide consultation, and will come into fruition on 28 May. They include splitting the two Asia Pacific sectors into three: Asia Pacific, Asia Pacific Income and Asia Pacific Smaller Companies. Meanwhile, Technology & Media gets its own sector, as does Royalties, while the Property Direct - UK and Property Specialist sectors will be divided into four separate sectors: Property - UK Commercial Property, Property - UK Healthcare, Property - UK Residential and Property - Debt. Reflecting the introduction of companies focused on...
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