The Investment Management Association (IMA) has officially launched its Mixed Investment 0-35% Shares sector.

The sector was introduced following the harmonisation of the IMA’s and Association of British Insurers’ (ABI) managed and mixed sectors late last year.

The other sectors created by the rebranding were launched on 1 January 2011, but the Mixed Investment 0-35% Shares sector was deferred until enough funds had chosen to enter it, with at least ten funds needed.

Just 13 funds have joined the sector, including three each from Fidelity and Barclays and four from Seven Investment Management (7IM).

The majority of funds now in the sector were previously either classified in the Mixed Investment 20-60% Shares or Unclassified sectors.

Apart from the equity restrictions, to qualify for the Mixed Investment 0-35% Shares sector, a fund must have a minimum of 45 per cent in investment grade fixed income and cash and a minimum of 80 per cent of investments must be in established market currencies, of which 40 per cent must be Sterling.

The names of the funds in the sector are,
-    7IM AAP Moderately Cautious fund
-    7IM Moderately Cautious fund
-    CF 7IM Income
-    CF 7IM Personal Injury
-    Fidelity Multi Asset Allocator Defensive Fund
-    Fidelity Retirement Income Fund
-    Fidelity Multi Asset Defensive Fund
-    Jupiter Distribution Fund
-    City Financial Diversified Fund
-    AXA Defensive Distribution
-    Barclays High Income Portfolio
-    Barclays Wealth Global Markets 1
-    Barclays Income Portfolio

All averages and statistics on the sector will be calculated from 1 January 2011.