JPM Global Consumer Trends to swap sectors after IMA changes

J.P. Morgan's Global Consumer Trends fund is expected to move from Specialist into Global Growth following the IMA's proposed changes to the sector, to compete with Graham French's £4.9bn M&G Global Basics.

Last month the IMA announced it was consulting members on proposals to allow industry-specific and thematic funds into the sector and, if given the go-ahead, groups will be allowed to move by the beginning of 2011. Advisers have criticised the move, saying the inclusion of thematic funds could skew performance figures and create confusion. Head of UK retail sales Jasper Berens said: “With the IMA sector changes, Global Consumer Trends should move from the Specialist to the Global Growth sector. We want to compare it with M&G Global Basics, which is a great fund, but people have put to...