sector review

Exchange-trade funds have entered the Investment Association

Funds by Amundi and Lyxor among entrants

GICS has reclassified real estate as standalone sector

Ambitious restructure of business

Over the past decade, sector classification issues have proved a persistent thorn in the side of the Investment Association (and predecessor the IMA).

Fund fashions and fads

The Investment Association (IA) is consulting members on a reorganisation of its sector structure as it seeks to better accommodate 'outcome-focused' funds.

A paper being reviewed by the House of Lords has launched an attack on the Investment Management Association, saying it is ill-equipped to decide on sector classifications, and the job should fall to a more impartial body.

The IMA's review of the Absolute Return sector may end up dividing it into three sub-sectors, according to Gordon Davidson, chair of the IMA Sector Committee.

US OUTLOOK