IMA income sector changes applauded

Association has bowed to pressure and tightened up income sector definitions, giving groups 12 months to comply with yield requirements

Yield-focused managers have welcomed the IMA's changes to the income sectors, claiming they should allow fairer like-for-like comparisons. After a review of the sector definitions, the IMA's Performance Category Review Committee has emphasised targets are for distributable income rather than yield of the underlying portfolio, as previously outlined. The authority has also improved the methodology for calculations so only historic yields are used. Previously, managers had to provide a list of their stocks' yields to be averaged out but there was no requirement on whether these were cur...