letter

Note: In last week's edition a portion of this letter was omitted so it is being re-run in full. Ri...

Note: In last week's edition a portion of this letter was omitted so it is being re-run in full. Richard Saunders, chief executive, IMA Editor, Your leader "Fund comparisons in danger of becoming meaningless" raises an issue that is very much on the IMA's radar. IMA sectors rely on minimum holdings of an asset class in order to classify funds into sectors. The assumption is that this ensures for example, that investors holding funds in a UK equity sector get UK equity market exposure in their portfolios. This type of sector classification based on asset allocation has, in the past, bee...