Industry Analysis Politics & Regulation

IMA overhauls sector definitions to become UCITS hedge fund friendly


The UK’s Investment Management Association is overhauling its sector definitions in response to the growing popularity of UCITS hedge funds.

The body that represents the authorised fund industry in the UK announced in August it is reviewing its official sectors because new legislation like UCITS III means that fund managers have gained wider investment powers.

Jane Lowe

The IMA is seeing more funds being launched that are characterised by their investment strategy – rather than the type of assets that they hold – and there has not been a major sector review since the introduction of the UCITS III legislation.

The sectors as they currently stand have been around for a long time according