The Association of Investment Companies (AIC) will launch three investment company sectors next month and is merging three others into one.
The trade body announced on Monday it is creating the China/Greater China, India and Property – UK Logistics sectors in March to reflect how the industry has changed in the past two years since its last sector shake-up.
The China/Greater China sector will include products invested in the shares of quoted companies in the region. Those invested in the shares of quoted Indian companies will be included in the India sector, while Property – UK Logistics will be for products invested in UK logistics property.
AIC chief executive Ian Sayers (pictured) said: “These latest changes reflect how our industry has expanded and developed since 2019, with an increasing number of specialist property companies and the growing importance of China and India in equity markets.”
“Each of these new sectors will have a small number of investment companies in them, with just four India trusts, three China trusts and a couple of Reits focused on logistics,” said Tilney managing director Jason Hollands.
He added: “Given the distinct characteristics of each of these areas, it makes sense to compare them like-with-like rather than lump these trusts together with vehicles that have wildly different remits. The new sectors are therefore to be welcomed and might well grow over time as new trusts are launched.”
In addition, the AIC will merge its Country Specialist: Asia Pacific – ex Japan, Country Specialist: Europe – ex UK and Country Specialist: Latin America into a single Country Specialist sector. The Asia Pacific Income sector will be renamed Asia Pacific Equity Income.
Products included in the newly merged Country Specialist sector must have invested a substantial portion of assets in the shares of quoted companies in up to two countries.
The moves follow a review of investment company sectors in consultation with AIC members conducted every two years.
