The ABI is to review the purpose and function of its Fund Sectors, starting with the controversial Money Market area.
A review of this sector will be welcomed by advisers who have been hit by the fall-out from the loss of value on Standard Life's Pension Sterling fund. Many said they had been unaware a large proportion of the fund had been in asset-backed securities rather than just cash and will be hoping the ABI's review of its sectors will make it easier to identify pure cash funds in the future. The ABI Fund Sectors categorise different types of investment fund, allowing consumers and financial advisers to compare funds with similar investment profiles. "The current economic crisis has highli...
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