US and UK sectors redefined

Autif is to change the definition of both the UK and the North American smaller companies sectors, writes Robert Stock. The new definitions require funds in the sector to be at least 80% invested in UK or US equities with market capitalisations in the bottom 10% of the market. The decision, which was taken by its Performance Category Review Committee on 9 May, brings the definition of the sectors into line with the definition of small cap funds investing in other regions such as Japan, Far East and Europe. The redefinition of the sectors, which Autif said prompted no objections from asse...