The fourth (and only new) managed sector failed to launch on the 1 January alongside the other three relabelled managed sectors because only nine funds had applied to list in it.
As a minimum the IMA usually requires 10 funds to register under a sector before it can be launched.
Of the nine applicants, six funds currently reside in the Mixed Investment 20-60% Shares Sector (formerly Cautious Managed), two are unclassified and one is in the Specialist Sector.
Those funds that have applied which are still listed in the Mixed Investment 20-60% Shares Sector would presumably rather not have a minimum requirement of 20% equity holdings.
The IMA said it could not release a definitive list of the funds until the sector had received its tenth applicant and could be launched.
"It is still only nine funds that have formally applied to be part of the sector," said a spokesperson for the IMA.
"But we have a number of managers interested and plan to launch it as soon as the tenth fund comes in, which could happen this week."
Other reports suggested the IMA would aim to launch the sector on 1 February, but the IMA confirmed it would go live as soon as possible.
Jane Lowe, director, markets for the IMA, has been in charge of administering the new sectors and is processing the new applicants now.
Under its previous plans the Mixed Investment 0-35% Shares Sector would have been the newly launched Managed D sector, so it is not surprising there have not been a flurry of applicants.
Meanwhile, the other three Managed Sectors: Mixed Investment 20-60% Shares (formerly Cautious Managed), Mixed Investment 40-85% Shares (formerly Balanced Managed) and Flexible Investment (formerly Active Managed) launched as intended on 1 January.
What do you think of the new labels for the managed sectors? Do they make any difference to the way you select funds? Let us know below.
