IMA to rename and redefine Absolute Return sector

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The Investment Management Association (IMA) will rename the Absolute Return sector as the Targeted Absolute Return sector as it completes a long-awaited review of the space.

Having delayed its final response to the May 2011 review several times,  the new name is now set to come into force at the start of June. The changes, which mark the culmination of a review first announced in May 2011, will also see the industry body overhaul its requirement for funds to beat a cash plus benchmark over rolling 12-month periods. Under the new definitions, all funds in the sector must, at a minimum, target positive returns in any market conditions. All funds in the sector must also state a timeframe over which they are aiming to meet their specified target. The tar...

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