3 new investment company sectors unveiled

Monday, 15 February 2021 12:00

The Association of Investment Companies (AIC) is creating three new investment company sectors as part of a sector reshuffle.

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

In other changes, 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.

The Asia Pacific Income sector will be renamed Asia Pacific Equity Income.

The AIC says the changes follow a review of investment company sectors overseen by the AIC’s independent statistics committee of brokers, research analysts and data providers.

To accompany the revised sectors, the AIC has published explanations of each sector’s characteristics and will also add this information on its website to help investors understand the differences.

Ian Sayers, AIC chief executive, 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 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
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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3 new investment company sectors unveiled