Following a recent review, the Investment Management Association (IMA) has made amendments to its fixed income sectors.
The UK Gilts and UK Index Linked Gilts sectors will adopt revised definitions which bring convergence with ABI sector definitions. The UK Corporate Bond and UK Other Bond sectors will be split in to three new sectors, to be named £ Corporate Bond, £ Strategic Bond and £ High Yield. The Global Bond definition will remain the same, however the definitions for the other sectors have been changed. Funds in the UK Gilts sector will now be defined as those which invest at least 95pc of their assets in Sterling denominated (or hedged back to Sterling) triple AAA rated, government backed securit...
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