The IMA has discarded modification of its sector rules governing fixed income funds.
IMA had considered tightening the sector definitions, amid concerns some fund managers in the GBP Corporate Bond sector were using currency bets heavily within their portfolios.
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As per source: "The IMA has notified us they will not be making any changes to the currency rules and the current definition will remain the same."
IMA has been consulting with members over changes to the bond sectors, including limiting exposure to asset-backed securities and reviewing the classification of short-term bonds as cash, since April,2012.
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