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Press Release

27 October 2010

IMA PROVIDES UPDATE ON SECTOR REVIEW

The Investment Management Association today provides feedback on the progress of its sector review.  In a meeting on 27 September, member firms provided their initial feedback on the review of the sector classification system used to categorise funds.

The IMA initially conducted a survey of member firms to seek their views and ask for information on the make-up of their current range of funds and recent launches. 

Jane Lowe, Director of Markets at the IMA comments:

"Members’ responses to the sector review survey were helpful in framing future discussions. Members expressed considerable support for the existing sector scheme and offered comments on areas for development.

“The feedback from members on the monitoring of the sectors is positive and the general consensus is that this process provides integrity to the sector classification system.

 “The members’ meeting featured discussions on collecting and publishing more information on funds and improving the ability of investors and their advisers to use the IMA sectors to screen or filter funds.

“We will now start to canvass views from other users of sectors in a series of focus groups and targeted research. Once that process is complete we will consult again with our members on the outcome.”

-ENDS-

Notes for Editors

Please find IMA’s original announcement of the sector review here.

For further information, please contact:

Clare Murphy-McGreevey, Press Officer, IMA, 020 7831 0898 or 07843 517618
Mona Patel, Head of Communications, IMA, 020 7831 0898 or 07834 089332
Email: press@investmentuk.org

Information about the IMA's sectors can be found on the IMA website: www.investmentuk.org.

About the Investment Management Association

The IMA is the trade body for the UK's £3 trillion asset management industry.  The money its members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.  Its role is to represent the industry and promote high standards. 
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