IMA opens up sectors to non-UK firms

The Investment Management Association (IMA) has opened up its sectors to non-UK firms in a move which will give them full membership of the trade body and bring their funds into the mainstream sectors.

The IMA said following its AGM it had created two new categories of membership which will come into effect from 1 January 2012. Firstly, non-UK firms managing UK authorised funds, or funds registered for sale in the UK, will be eligible for full membership. Previously only investment management firms with offices in the UK could join the IMA as full members. The IMA has also created a new sector membership category for firms who do not require full membership but want to have their funds included in the categories sectors. The IMA said the sector membership will be available to ...