IMA pushes back Managed sectors change until October

The Investment Management Association has moved back the date it will implement changes to the Managed sectors by three months after calls from members for more time to discuss proposals.

The IMA confirmed the changes to the sector names now come into effect from October, as opposed to July, subject to feedback. The decision to postpone the changes comes after an outcry from fund groups who have criticised proposals to re-name the Balanced, Cautious and Active sectors to Managed A, B, C and D. At the end of May, the IMA announced it would scrap the existing definitions and names of the Managed sectors while adding the Managed D sector to sit below the existing Cautious Managed sector in the risk/reward hierarchy. The IMA said the new sector names have been chosen in...