The new sector is for companies whose policy allows them to invest in a range of asset types, and is aimed at assisting advisers and investors find and compare multi-asset investment companies. Ten investment companies will be reclassified into the Flexible Investment sector in January 2016.
Ian Sayers, chief executive of the AIC, said: “We believe the new sector will help investors and advisers easily find and compare those investment companies which have the ability to invest in a range of assets.
“Importantly, the introduction of the Flexible Investment sector will allow investors to compare investment companies with similar open-ended funds.”
| 10 reclassifications: |
| BACIT |
| BlackRock Income Strategies Trust |
| Capital Gearing Trust |
| Henderson Alternative Strategies Trust |
| Invesco Perpetual Select Balanced Risk |
Miton Worldwide Growth Investment Trust |
| New Star Investment Trust |
| Personal Assets Trust |
| RIT Capital Partners |
| Ruffer Investment Company |
Darius McDermott, managing director for London-based Chelsea Financial Services, said: “Its one of the difficulties everyone has. Apples for applies, like for like. This seems a sensible move, to reclassify funds which have a similar flexibility within their mandate. Its a sensible move to aid people with those choices.”
