The IMA has amended its Cautious Managed sector definition to prevent funds from breaching sector re...
The IMA has amended its Cautious Managed sector definition to prevent funds from breaching sector requirements. Funds’ investing in a range of assets with the maximum equity exposure is now restricted to 60% of the portfolio with at least 30% invested in fixed interest and cash. At least 50% of the underlying assets must be in Sterling/Euro and equities, which include convertibles. The body said the changes were introduced as the existing definition is loosely worded and encompasses some markedly different investment approaches. Despite the amendments, there have been no changes to ...
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