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

 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

SectorDescription
China / Greater ChinaInvests in the shares of quoted companies in

the China or Greater China region.

IndiaInvests in the shares of quoted Indian

companies.

Property – UK LogisticsInvests in UK logistics property.
Country SpecialistInvests a substantial portion of assets in the

shares of quoted companies in up to two countries.

Renamed sector

New sectorNew descriptionOld sectorOld description
Asia Pacific Equity IncomeInvests in the shares of larger quoted Asia

Pacific companies for both capital growth and

income.

Asia Pacific IncomeInvests in the shares of larger quoted Asia Pacific companies,

or high-yielding securities, for a high income.

 Unchanged sectors

Asia PacificNorth America
Asia Pacific Smaller CompaniesNorth American Smaller Companies
Biotechnology & HealthcarePrivate Equity
Commodities & Natural ResourcesProperty – Debt
Debt – Direct LendingProperty – Europe
Debt – Loans & BondsProperty – Rest of World
Debt – Structured FinanceProperty – UK Commercial
EnvironmentalProperty – UK Healthcare
EuropeProperty – UK Residential
European Smaller CompaniesProperty Securities
FinancialsRenewable Energy Infrastructure
Flexible InvestmentRoyalties
GlobalTechnology & Media
Global Emerging MarketsUK All Companies
Global Equity IncomeUK Equity & Bond Income
Global High IncomeUK Equity Income
Global Smaller CompaniesUK Smaller Companies
Growth CapitalVCT AIM Quoted
Hedge FundsVCT Generalist
InfrastructureVCT Generalist Pre Qualifying
Infrastructure SecuritiesVCT Specialist: Environmental
Insurance & Reinsurance StrategiesVCT Specialist: Healthcare & Biotechnology
JapanVCT Specialist: Media, Leisure & Events
Japanese Smaller CompaniesVCT Specialist: Technology
LeasingVCT Specialist: Technology Pre Qualifying
Liquidity Funds

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