The Affiliation of Funding Corporations (AIC) – the commerce physique for the funding firm sector – has renamed three of its sectors following a evaluation.
The brand new sector names are Financials & Monetary Innovation (beforehand Financials), India / Indian Subcontinent (beforehand India) and Expertise & Expertise Innovation (beforehand Expertise & Media).
The modifications take impact instantly.
Because of the brand new classifications, one funding firm, Augmentum Fintech, has moved to the Financials & Monetary Innovation sector. It was beforehand within the Expertise & Media sector.
The sector definitions have additionally been modified as follows:
New sector title
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New sector definition
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Earlier sector title
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Earlier sector definition
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Financials & Monetary Innovation
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Invests in monetary companies firms and associated sectors, which can embody industries similar to banking, insurance coverage, capital markets and fintech.
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Financials
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Invests in monetary service companies.
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India / Indian Subcontinent
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Invests within the shares of quoted firms in India or Indian subcontinent.
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India
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Invests within the shares of quoted Indian firms.
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Expertise & Expertise Innovation
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Invests in know-how and associated sectors.
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Expertise & Media
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Invests in know-how and media.
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Supply: AIC
The modifications comply with a evaluation of funding firm sectors by the AIC’s unbiased statistics committee which consists of brokers, analysis analysts and trade knowledge suppliers.
Most AIC sectors have remained the identical.
Annabel Brodie-Smith, AIC communications director, stated: “The funding panorama is consistently altering and we evaluation our sectors recurrently to make sure they’re as clear and related as attainable. The revised sector names and definitions will assist buyers who wish to examine funding firms with open-ended funds.”