Should IMA take a tip from Morningstar on Absolute Return?

RWC Partners is urging the IMA to look at the Morningstar categories when the body decides how to revamp the Absolute Return sector later this year.

Investment Week recently revealed the IMA's sector committee is unlikely to make a decision on any changes to the sector in this half of the year despite beginning a review almost a year ago. Although the concept - of producing positive returns regardless of market direction - has proven popular with investors, with £20bn under management in the sector sitting in 76 funds, the naming, definition and grouping of the funds has come under fire from IMA members and investors. Dan Mannix, head of business development at RWC, (pictured) said: "The lobbying of the IMA by groups to change the...