The Investment Management Association has created two sector membership categories to cater for the growth in offshore funds following the implementation of Ucits IV.
Following years of lobbying from offshore asset managers, sector membership will be available for both UK and offshore managers as of January next year.
Non-UK asset managers with authorised funds or funds registered for sale in the UK will then be eligible for full membership.
Previously, only asset managers with offices in the UK could join the trade body as full members. Many offshore funds were overlooked by investors and financial advisers, who typically select funds from the IMA sector listings.
The two new sector categories, however, are designed for asset managers who do not require a full membership, but wish to have their funds included in its sector listings.
“Sector members will benefit from participation in all sectors-related consultations and reviews,” the IMA says.
The IMA is the trade body for the UK’s £4 trillion asset management industry.
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