Lipper contracted to police the IMA fund classification sectors

Lipper is to police the Investment Management Association (IMA), formerly Autif, fund classification sectors from this summer onwards. Last month, the company was contracted to monitor the asset allocation of funds in the UK All Companies sector and ensure funds are correctly classified. Using its database of regularly updated fund information, Lipper will initially police the most popular sector, UK All Companies, before its role is expanded to include the whole funds universe. The IMA has not yet decided whether Lipper will collate the data and send it on to IMA or sift through th...