Groups criticise IMA's revamped bond sectors

Groups believe £ Strategic sector fails to address issues with current peer groups, as it is still not comparing like for like

Several groups have claimed the IMA's revamped bond sectors will not solve existing issues and complained of confusion in the run-up to the changes next week. New Star fund manager Nick Hayes has dubbed the new £ Strategic sector a "dumping ground" for funds that may hold anything from gilts to high yield. Meanwhile, Aegon said it has no idea how its funds will rank as the IMA placed a number of vehicles in the wrong sectors in its proposals. In July, Investment Week reported the IMA will split the UK Corporate Bond and UK Other Bond sectors into three peer groups, Corporate Bond, £ S...