THE Association of Unit Trust’s on Tuesday announced a reclassification of unit trusts that may require investors to play a more active role in the management of the trusts. Business Day reports that funds will now be classified as domestic funds (at least 85% invested in South African markets), worldwide funds (local and foreign with a minimum of 15% invested in SA and abroad), foreign funds (85% outside SA) or regional funds (85% in a country or region). These will then be subcategorised into equity, asset allocation and fixed interest funds. According to association executive director Colin Woodin, the revised fund classification system will help investors understand, compare and select unit trusts.