A time for ‘kitchen-sinking'

LEADER

Last month brought with it the news that Invesco Perpetual High Income and, in time, its other UK dividend portfolios, will be the latest funds to move out of the IMA UK Equity Income sector.

The value of sector classification has long been up for debate: many advisers and wealth managers, not unreasonably, say they have little use for the IMA’s delineations. The wisdom or otherwise of the IMA’s rolling three-year yield target is also hotly contested. Regardless, it is undeniable that many in the industry, as well as retail investors, still value the comparisons and quartile rankings the sectors provide. So the news is significant. The question is, then, why did Invesco Perpetual wait until March to announce the funds were leaving the sector? With Mark Barnett having...