The Investment Association (IA) has reopened discussions with members over how to reorganise its sector classification system after an initial consultation proved inconclusive.
The consultation, launched in February, sought to address the growing number of risk-targeted funds which now sit in the trade body's Unclassified sector. The IA also conducted research with advisers on the subject. As of February, 200 of the 475 funds in the sector, with AUM totalling over £30bn, aim to produce a defined outcome - mostly by seeking to match a client's attitude to risk via strategic asset allocation. The IA, led by Daniel Godfrey (pictured), proposed two central options for reform: a new sector for outcome-focused funds, to sit alongside the Mixed Investment sectors; ...
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