IMA planning to launch fund comparison site

The Investment Management Association (IMA) is reportedly considering setting up a fund comparison website for private banking consumers.

According to moneymarketing.co.uk, it could well develop a system of risk ratings for funds in the managed sectors once the website goes live in March.

It is intended that the comparison site will enable private investors to easily compare funds based on criteria such as minimum investment and minimum monthly savings.

A spokesperson for the IMA was quoted as saying: "The team is looking at ways you can measure risk for funds in the managed sectors.

She added that if a suitable process is not introduced, then the IMA will utilise the European Securities and Markets Authority's existing indicators, which will be added to the website once it is up and running.

Earlier this month, it was reported that the IMA has brought its definitions of managed/mixed investment sectors in line with those used by the Association of British Insurers, providing investors with greater clarity.

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