AIC to launch three new sectors in March including China/Greater China

by | Feb 15, 2021

Chinese Financial District

 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.”

New sectors

Sector Description
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.

Renamed sector

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.

 Unchanged sectors

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
Flexible Investment Royalties
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
Liquidity Funds

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