Romer-Lee: The IA's enormous classification challenge

Square Mile Investment Consulting & Research's Richard Romer-Lee analyses the impact of another fund's departure from the Investment Association's UK Equity Income sector.

The news that the Investment Association (IA) has ejected the Schroder Income fund from the UK Equity Income sector is another instance of its sector classification system being challenged by an IA member company and frustrations being vented. Schroders calls for UK Equity Income sector overhaul after flagship fund removed We have sympathy with both sides. The IA has an enormous challenge on its hands, seeking to evolve its classification system to reflect the thousands of funds in the market whilst helping to point investors broadly in the right direction. It also has to consid...