The Investment Association’s (IMA) listings, which were exclusively restricted to onshore funds, is all set to witness a sense of transformation. As a part of this process, over 130 offshore funds have applied to be a part of the IMA portfolio. The inclusion of offshore funds was kicked off on 1 April 2010, and 117 such funds have already been classified, with 36 still awaiting data verification.
Director of markets at the IMA, Jane Lowe anticipates several hundreds of such offshore funds to be classified by the end of 2010. Once they satisfy the necessary norms, the 130 funds waiting for inclusion in IMA will be added to their respective sectors.
The IMA also plans to incorporate another system for addition of offshore funds by autumn. Inclusion within IMA sectors enables direct comparisons between funds. To facilitate their searching by investors and advisers, these funds will, by autumn, be subject to the concept of “flagging”.
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