Returns now not Absolute

Marion Dakers
THE INVESTMENT Management Association (IMA) yesterday revealed plans to rename its Absolute Return Sector, as it thinks the current moniker might give advisers and consumers the wrong impression about the likelihood of positive returns.

The sector, to be renamed Targeted Absolute Return Sector, will also require funds to state a timeframe for their specified targets.

The IMA will also publish data showing how consistently each fund meets its goals.