The Association of Investment Companies (AIC) has renamed five sectors to match those used by its open-ended counterpart the IMA.
The change became effective on January 2 and and the AIC director general Ian Sayers said the change would make it “easier for private investors and financial advisers to look at investment companies alongside open-ended funds when researching investments”.
“In a post RDR world this should help investors to find the right company for their investment needs,” he added.
“Our other sector names continue to be appropriate, while our sector definitions will remain unchanged.”
|AIC sector name changes|
|Old name||New name|
|Global Growth & Income||Global Equity Income|
|UK Growth||UK All Companies|
|UK High Income||UK Equity & Bond Income|
|UK Growth & Income||UK Equity Income|