The ABI's review of the life and pension fund sectors has reached the consultation stage and the association is urging providers and financial advisors to get involved.
The review will affect categorisation for over 6000 unit-linked life and pension funds with over £500bn worth of assets under management. The ABI says the ever-increasing variety of funds is demeaning bit-by-bit the current system of classification. Sectors are vital for advisers and consumers to compare similar funds on a like-for-like basis. Chairman of the ABI’s Investment Classification Committee, Jeremy Thatcher, says: “Our proposals will refresh the sectors and reflect ongoing market changes affecting life and pension funds. "As part of the review, we initiated discussions with th...
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