5% of funds breaching sector rules

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Around 5% of funds in the UK All Companies sector are in breach of the sector's definition that at l...

Around 5% of funds in the UK All Companies sector are in breach of the sector's definition that at least 80% of holdings must be in domestic equities. The finding comes in the first sector monitoring report delivered last week as the IMA, with Lipper, began actively policing its fund sectors. The trade body, which sets a definition for each of its 27 sectors set out in full on its website at www.investmentfunds.org.uk, will not reveal which of the 360-plus funds are currently outside sector guidelines. However, each of the asset managers is being contacted, firstly to check that Lippe...

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