The Association of Investment Companies (AIC) is to create three new investment company sectors following a sector review. The new sectors, China / Greater China, India and Property – UK Logistics will be launched in March.
In addition, the Country Specialist: Asia Pacific – ex Japan, Country Specialist: Europe – ex UK and Country Specialist: Latin America sectors will be merged into a single sector called Country Specialist, and the Asia Pacific Income sector will be renamed Asia Pacific Equity Income.
The changes follow a review of investment company sectors which was overseen by the AIC’s independent statistics committee of brokers, research analysts and data providers. The review was undertaken in consultation with the AIC’s members to ensure its investment company sectors are as clear and helpful as possible for investors.
To accompany the revised sectors, the AIC has published explanations of each sector’s characteristics. When the changes take effect, the AIC will also issue new sector descriptions on its website so investors can easily understand what each sector invests in.
Ian Sayers, Chief Executive of the Association of Investment Companies (AIC), said: “We do a sector review every two years to ensure our investment company sectors are as helpful as possible for investors. 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.
“Our new and revised sectors will help investors compare investment companies with relevant peers, and make it easier for them to find what they are looking for.”
|China / Greater China||Invests in the shares of quoted companies in
the China or Greater China region.
|India||Invests in the shares of quoted Indian
|Property – UK Logistics||Invests in UK logistics property.|
|Country Specialist||Invests a substantial portion of assets in the
shares of quoted companies in up to two countries.
|New sector||New description||Old sector||Old description|
|Asia Pacific Equity Income||Invests in the shares of larger quoted Asia
Pacific companies for both capital growth and
|Asia Pacific Income||Invests in the shares of larger quoted Asia Pacific companies,
or high-yielding securities, for a high income.
|Asia Pacific||North America|
|Asia Pacific Smaller Companies||North American Smaller Companies|
|Biotechnology & Healthcare||Private Equity|
|Commodities & Natural Resources||Property – Debt|
|Debt – Direct Lending||Property – Europe|
|Debt – Loans & Bonds||Property – Rest of World|
|Debt – Structured Finance||Property – UK Commercial|
|Environmental||Property – UK Healthcare|
|Europe||Property – UK Residential|
|European Smaller Companies||Property Securities|
|Financials||Renewable Energy Infrastructure|
|Global||Technology & Media|
|Global Emerging Markets||UK All Companies|
|Global Equity Income||UK Equity & Bond Income|
|Global High Income||UK Equity Income|
|Global Smaller Companies||UK Smaller Companies|
|Growth Capital||VCT AIM Quoted|
|Hedge Funds||VCT Generalist|
|Infrastructure||VCT Generalist Pre Qualifying|
|Infrastructure Securities||VCT Specialist: Environmental|
|Insurance & Reinsurance Strategies||VCT Specialist: Healthcare & Biotechnology|
|Japan||VCT Specialist: Media, Leisure & Events|
|Japanese Smaller Companies||VCT Specialist: Technology|
|Leasing||VCT Specialist: Technology Pre Qualifying|