The Big Question: QROPS

Andrew Gadd is head of research at The Lighthouse Group: The position regarding QROPS reminds me of the argument used by the IMA regarding their sector classifications. After the Arch Cru Investment Portfolio which was listed in the cautious managed sector despite the fact that it invested heavily in private equity and private finance failed, the IMA said the sector's name related to the sorts of assets held in funds listed in their sectors rather than their risk levels.  In fact, an IMA spokesperson specifically commented at the time: "The word ‘cautious' should not be taken litera...