IMA attacks ABI sector plans as 'inconsistent' with RDR

In a recent consultation paper, the ABI proposes the Mixed Asset Sectors (presently known as Defensive Managed, Cautious Managed, Balanced Managed and Flexible Managed) would all be unified under the Mixed Investment Shares tag.  However, there would be numerical references to the range of equities the funds can hold. Defensive would become Mixed Investment 0-25% Shares, through to Flexible, which would known as Mixed Investment 0-100% Share. In its response letter, the IMA’s head of sectors Nicola Kembey says although there is traditionally a strong convergence between the IMA and AB...