The UK All Companies sector paints a confusing picture instead of fufilling its original intention to allow investors to compare like with like
The UK All Companies sector is an increasingly unwieldy beast. The purpose of the IMA sectors was to allow investors to compare like with like and, in most cases, this works pretty well. But the UK All Companies sector includes a wide range of different management styles, market cap exposures and value/growth biases. Investors have no real way of telling whether a fund is at the top because the manager is a great stockpicker, or because he has had exposure to the mid-250, for example. Advisers and fund management groups intermittently agitate for more informative sectors from the IMA. This...
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