InvestmentsDec 17 2015

AIC launches Flexible Investment sector

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AIC launches Flexible Investment sector

The Association of Investment Companies has launched an investment company sector, Flexible Investment, to help IFAs find and compare multi-asset trusts more easily.

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:
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.”