The IMA opened its sectors to offshore funds on 1 April this year and so far a total of 117 offshore funds have now been classified, while a further 36 funds are with the IMA awaiting finalisation of data. In addition, 10 offshore funds have been included in the IMA’s Absolute Return sector.
The IMA said the second tranche of 130 funds are currently being checked and processed and will be added to their relevant sectors over the next few weeks.
It also said it would be giving a further opportunity for offshore funds to apply for inclusion in its sectors in the autumn.
"The number of offshore funds in IMA sectors continues to grow,” said Jane Lowe, director of markets at the IMA.
“We expect several hundred to be classified by the end of 2010. With 130 newly submitted funds and a third round for entry in the autumn, the total number of offshore funds in IMA sectors should rise swiftly.”
