IMA mulls U-turn on Managed sector labels

The Investment Management Association (IMA) could scrap plans to rename the Cautious, Balanced and Active Managed sectors after an outcry from leading investment houses.

A spokesperson at the IMA said the names Managed A, B, C and D could now change following uproar from fund management groups including Fidelity, Investec, Skandia and other members. "We want something that is workable and we have asked members to come back to us with feedback. We are open to ideas for alternatives." The IMA confirmed the names are under threat after chief executive Richard Saunders said in a blog this afternoon the organisation wants feedback from fund managers. Groups have until 17 June to come back to the IMA with their views. Last week the IMA said it was opt...