IMA to act if UK Equity Income sector becomes unrepresentative

The IMA has said it will ensure the UK Equity Income sector does not become "unrepresentative" as other funds look set to follow Invesco Perpetual High Income out of the peer group.

High Income last month became the most popular fund to fall foul of the IMA’s rolling three-year yield requirements when it was ejected from the sector. The latest data from the IMA shows some other notable UK equity income funds are in danger of being kicked out later this year, with John McClure (pictured)’s Unicorn UK Income fund the most likely candidate. Invesco Perpetual has already said its Income and Strategic Income funds will join High Income in the UK All Companies sector later in 2014, and the IMA has suggested it could act if too many high profile funds move. Asked whe...