IMA launches delayed fourth managed sector

The Investment Management Association (IMA) has launched its fourth managed sector, Mixed Investment 0-35% Shares, after 13 funds submitted applications to join the group.

On 1 January the IMA announced the launch of three new managed sectors - Mixed Investment 20-60% Shares, Mixed Investment 40-85% Shares and Flexible Investment.

The fourth managed sector launch, the Mixed Investment 0-35% Shares, was delayed as less than the necessary 10 funds submitted applications.

However, 13 funds now meet the criteria to sit in the sector after originally just eight funds initially applied before 1 January.

"The launch of the Mixed Investment 0-35% Shares sector was deferred pending sufficient demand from IMA member funds to populate it as a minimum of 10 funds were required to launch the sector," said the IMA.

"The IMA can now confirm that 13 funds have been submitted for classification to the sector."

The new names and definitions of the Managed sectors match those used by the ABI, which has roughly 151 funds in the 0-35% Shares sector.

Under the definition up to 35% of the fund can be invested in equities, while at least 45% of the fund must be exposed to fixed income or cash instruments.

Mixed Investment 0-35% Shares sector

7IM AAP Moderately Cautious
7IM Moderately Cautious
CF 7IM Income
CF 7IM Personal Injury
AXA Defensive Distribution
Barclays High Income Portfolio
Barclays Income Portfolio
Barclays Wealth Global Markets
City Financial Diversified
Fidelity Multi Asset Allocator Defensive
Fidelity Multi Asset Defensive
Fidelity Retirement Income
Jupiter Distribution