Some fund managers at IMA member firms are invested entirely in structured products despite criticism of the investments from its chief executive Richard Saunders this week.
Statistics on IMA member funds, seen by IFAonline.co.uk, show that, of the 208 funds with a structured products allocation, five have 100%, nine have above 50% and 33 have more than a 20% allocation. In addition, Blue Sky Asset Management (BSAM) today describe Saunder’s comments, in which he said some structured product providers’ claims about returns “should not be taken at face value”, as “simplistic and misguided”. On Tuesday, the IMA argued it is difficult to assess the accuracy of product literature because structured products' promoters are not obligated to report performance. H...
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