Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

IMA delays response on absolute return sector

IMA delays response on absolute return sector

The Investment Management Association (IMA) is delaying its response on the absolute return sector review.

Daniel Godfrey, who took over as the chief executive of the IMA on December 1, has said a response on the review is more likely to come in the first quarter of 2013. 

He said: 'I am aware we had hoped to have clarity on the future shape of the absolute return sector by the end of 2012.  This is an important issue for consumers and, having only taken over as chief executive this month, I want to consider all the evidence and all the options thoroughly before we take any final decision. 

'A great deal of research and work has already been done and the input from the industry has been excellent. I expect we will be in a position to announce the conclusion of our review by the end of February.'

When the IMA announced its review into the sector it said the absolute return category allowed funds of the same nature to be grouped together, but the downside is that it lacked detail.

'It does not, for instance, add relative volatilities, and nor does it consider asset type,' said the IMA's Jane Lowe (pictured) at the time.

At the end of the review the absolute return sector could be tied to the IMA's managed sectors, depending on where funds sit on the risk spectrum.  There was also the possibility of the funds being grouped by their outcomes, rather than assets.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
1 Comment Play CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

Do not miss the first two minutes of this film as Richard Buxton shares how he has been challenged by a client for owning shares in a certain company.

Play CEO Tapes: the huge opportunities for asset managers

CEO Tapes: the huge opportunities for asset managers

From tech disruption, retirement and poaching, the CEO discuss the opportunities for their businesses in this episode.

Play CEO Tapes: 'we're just a bunch of white dudes sitting here'

CEO Tapes: 'we're just a bunch of white dudes sitting here'

In our brand new series, eight CEOs discuss how the industry could do a better job for female fund managers.

Read More
Wealth Manager on Twitter