AIC to launch three new sectors

China / Greater China, India and Property – UK Logistics will be launched in March.


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.

When the changes take effect, the AIC will 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



China / Greater China

Invests in the shares of quoted companies in the China or Greater China region.


Invests in the shares of quoted Indian companies.

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 income.

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


Property – UK Healthcare


Property – UK Residential

European Smaller Companies

Property Securities


Renewable Energy Infrastructure

Flexible Investment



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


VCT Generalist Pre Qualifying

Infrastructure Securities

VCT Specialist: Environmental

Insurance & Reinsurance Strategies

VCT Specialist: Healthcare & Biotechnology


VCT Specialist: Media, Leisure & Events

Japanese Smaller Companies

VCT Specialist: Technology


VCT Specialist: Technology Pre Qualifying

Liquidity Funds



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Notes to editors

  1. The Association of Investment Companies (AIC) was founded in 1932 to represent the interests of the investment trust industry – the oldest form of collective investment. Today, the AIC represents a broad range of closed-ended investment companies, incorporating investment trusts and other closed-ended investment companies and VCTs. The AIC’s members believe that the industry is best served if it is united and speaks with one voice. The AIC’s mission statement is to help members add value for shareholders over the longer term. The AIC has 359 members and the industry has total assets of approximately £229 billion.
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