THE Association of British Insurers (ABI) is to change its classification system for life and pension funds, following several months of analysis and consultation with insurers, fund managers and advisers, as well as regulatory and consumer organisations.
The current sectors contain over 6,000 unit-linked life and pension funds, enabling advisers to make asset allocation comparisons. The changes will take effect on January 25, 2008 and include new criteria for mixed asset fund sectors, three new fixed interest fund sectors, new sectors to reflect the growing number and diversity of property funds and the introduction of a flagging system to allow greater detail on sector sub-groupings, such as regional. The chairman of the ABI’s investment classification committee, Jeremy Thatcher, commented: “The new ABI sectors reflect a number of ma...
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