IMA consulted four IFAs on Managed sector name change

The IMA is changing the Managed sectors to fall into line with the Association of British Insurers (ABI) fund categories. For example, the IMA's Cautious Managed sector will be renamed Mixed Investment 20-60% Shares. Two employee benefit consultants and four independent financial advisers were interviewed for their views ahead of the change, the IMA said. Three of the IFAs thought a simpler name than the one the IMA has decided upon would be more appropriate. They argued it is their role to describe the funds and explain how they work, and felt longer names would disengage their...