IMA confirms Woodford move to Eq Income and Growth sector

Woodford's Invesco Perpetual Income and High Income portfolios are among the movers, in addition to Robin Geffen's Neptune Income fund. The IMA has removed all funds from the UK Equity Income sector that failed the yield test based on a 12 months look back on 31 December 2008, but taking into account final distributions if these were out of step with a fund's calendar year end. The IMA UK Equity Income sector is now defined as funds which invest at least 80% in UK equities and aim to achieve an historic yield on the distributable income in excess of 110% of the FTSE All Share yield at the...