IMA updates income sector definitions

The IMA has updated the UK Equity Income and UK Equity & Bond sectors to reflect tightened yield repo...

The IMA has updated the UK Equity Income and UK Equity & Bond sectors to reflect tightened yield reporting requirements instituted in September last year. The group’s Performance Category Review Committee (PCRC) said funds need to supply data to the IMA based on new guidelines set out in its Calculation and Disclosure by UK Authorised Funds Guidelines for Managers. UK Equity Income funds are now: “Funds which invest at least 80% in UK equities and which aim to achieve a yield on the distributable income in excess of 110% of the FTSE All Share yield.” UK Equity & Bond funds are now: “Fu...