AIC to rename three sectors
The new sectors are Financials & Financial Innovation, India / Indian Subcontinent and Technology & Technology Innovation.
The Association of Investment Companies (AIC) has renamed three of its investment company sectors following a sector review. The new sector names are Financials & Financial Innovation, India / Indian Subcontinent and Technology & Technology Innovation and the changes take effect immediately. The sector definitions have also been changed as shown below.
Changes to sector names and definitions
|
New sector name |
New sector definition |
Previous sector name |
Previous sector definition |
|---|---|---|---|
|
Financials & Financial Innovation |
Invests in financial services companies and related sectors, which may include industries such as banking, insurance, capital markets and fintech. |
Financials |
Invests in financial service businesses. |
|
India / Indian Subcontinent |
Invests in the shares of quoted companies in India or Indian subcontinent. |
India |
Invests in the shares of quoted Indian companies. |
|
Technology & Technology Innovation |
Invests in technology and related sectors. |
Technology & Media |
Invests in technology and media. |
As a result of the new classifications, one investment company, Augmentum Fintech, has moved to the Financials & Financial Innovation sector. It was previously in the Technology & Media sector.
The changes follow a review of investment company sectors by the AIC’s independent statistics committee which consists of brokers, research analysts and industry data providers. Such reviews are regularly conducted in consultation with the AIC’s members to ensure the sectors provide a clear basis for comparison between similar funds.
The AIC publishes its sector definitions on its website so investors can easily understand what each sector invests in.
Annabel Brodie-Smith, Communications Director of the Association of Investment Companies (AIC), said: “The investment landscape is constantly changing and we review our sectors regularly to ensure they are as clear and relevant as possible. The revised sector names and definitions will help investors who want to compare investment companies with open-ended funds.”
Unchanged sectors
|
Asia Pacific |
Liquidity Funds |
|
Asia Pacific Equity Income |
North America |
|
Asia Pacific Smaller Companies |
North American Smaller Companies |
|
Biotechnology & Healthcare |
Private Equity |
|
China / Greater China |
Property – Debt |
|
Commodities & Natural Resources |
Property – Europe |
|
Country Specialist |
Property – Rest of World |
|
Debt – Direct Lending |
Property – UK Commercial |
|
Debt – Loans & Bonds |
Property – UK Healthcare |
|
Debt – Structured Finance |
Property – UK Logistics |
|
Environmental |
Property – UK Residential |
|
Europe |
Property Securities |
|
European Smaller Companies |
Renewable Energy Infrastructure |
|
Farmland & Forestry |
Royalties |
|
Flexible Investment |
UK All Companies |
|
Global |
UK Equity & Bond Income |
|
Global Emerging Markets |
UK Equity Income |
|
Global Equity Income |
UK Smaller Companies |
|
Global Smaller Companies |
VCT AIM Quoted |
|
Growth Capital |
VCT AIM Quoted Pre Qualifying |
|
Hedge Funds |
VCT Generalist |
|
Infrastructure |
VCT Generalist Pre Qualifying |
|
Infrastructure Securities |
VCT Specialist: Environmental |
|
Insurance & Reinsurance Strategies |
VCT Specialist: Environmental Pre Qualifying |
|
Japan |
VCT Specialist: Healthcare & Biotechnology |
|
Japanese Smaller Companies |
VCT Specialist: Technology |
|
Latin America |
VCT Specialist: Technology Pre Qualifying |
|
Leasing |
|
For a full list of all the sectors and the definitions visit the AIC’s website.
- ENDS -
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Notes to editors
- The Association of Investment Companies (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 vision is for closed-ended investment companies to be considered by every investor. The AIC has 349 members and the industry has total assets of approximately £268 billion.
- For more information about the AIC and investment companies, visit the AIC’s website.
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