Investment Management Association (IMA) has introduced an online review tool for its Targeted Absolute Return sector to allow advisers and consumers compare funds.
The new tool will allow investors to breakdown the sector and filter funds by benchmark, fund objective, fund style and management group.
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Initially named as IMA Absolute Return, the sector has been renamed to IMA Targeted Absolute Return following a review into the controversial fund grouping earlier this year.
The sector was renamed in order to ensure investors were aware that funds did not guarantee to produce a positive return.
The new online review tool will also allow investors and advisers to access performance data, updated monthly, showing how many 12-month periods of positive returns funds have achieved in the previous three years.
Jonathan Lipkin, director of public policy at the IMA, said: "We have out together soft monitoring data on the Targeted Absolute Return sector to give clarity around what the funds are trying to achieve. It is designed to shed more light on a sector that is different from the traditional sectors."
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