Fidelity suggests Managed definitions based on 'risk assets'

Fidelity has proposed new names for the IMA Managed sectors based around their total exposure to 'risk assets' not just equities.

The IMA is currently consulting with the industry on its plans to overhaul the Active, Balanced and Cautious Managed sectors. Many fund groups, including Fidelity, openly criticised the proposals, arguing they would not improve transparency for consumers. Gary Shaughnessy, UK managing director at Fidelity International, said: "We agree with the IMA that descriptive names such as the existing ones do imply value judgements and will differ for each individual. But we disagree that you can't convey the flexibility of these funds in a name or that names based on asset allocation limits would...