Fund groups to lobby IMA on Managed sector changes

Fund houses argue IMA decision to restructure Managed sectors fails investors

Leading fund groups have said they will lobby the IMA over its decision to rename the Managed sectors. In a backlash against the changes, Fidelity and Investec said they will call on the IMA to rethink its move to label the sectors Managed A to D, with Skandia mulling whether to follow suit. Fidelity’s Gary Shaughnessy said: “We would like them to reconsider and we will be in conversation with the IMA to try to get them to reverse their decision.” Fidelity has already written to the IMA to voice its displeasure at the changes, and Investec’s David Aird added the group will also be res...