Limited value in absolute return sector

Investment Week first highlighted IMA plans for an absolute return sector last August. Nine months ...

Investment Week first highlighted IMA plans for an absolute return sector last August. Nine months later, we finally have such a peer group, but with performance comparisons deemed impossible, the point of the whole enterprise is difficult to fathom. The IMA said it has simply provided for a home for funds previous dotted around the various sectors - and this is fine as far as it goes. But the whole point of sectors, if you use them at all, is that they provide a performance context for any particular vehicle. Without this, the absolute return peer group does little more than shave ...