Autif is looking to split the 334-strong UK All Companies peer group into three distinct sub-sectors...
Autif is looking to split the 334-strong UK All Companies peer group into three distinct sub-sectors.
The trade body's performance category review committee had already agreed to flag up tracker and ethical funds within the sector. It now wants to retain the overall UK All Companies but list funds in three separate sub-sectors covering 18 ethical funds, 51 trackers and 265 actively managed portfolios.
The performance rankings of each fund will be measured against the overall sector, not the sub-sector.
Autif director of communications Anne McMeehan has written to all financial services trade papers to ask them to present the All Companies in this new format.
McMeehan said: 'Creating meaningful sub-sectors, while retaining accurate overall ranking for the entire sector, will enable consumers and their advisers to compare and contrast performance on two levels at the same time.'
What made financial headlines over the weekend?
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch