IMA sector split not fair on fund of funds

T. Bailey has criticised the IMA for not taking fund of funds into consideration when assessing the U...

T. Bailey has criticised the IMA for not taking fund of funds into consideration when assessing the UK Equity Income sector. Elliot Farley, senior analyst at the fund of funds firm, says although the firm is not in danger of breaching the rules, he is concerned the dislocation between fund pay-out dates and T. Bailey's own could mean fund of funds fall foul. "For example, for a manager investing directly in the FTSE All Share, when the companies pay their dividend it too can pay the dividend as income," he says. "However with a fund of funds it is very unlikely that all funds will pay o...