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Ex-Gartmore star to run new io fund

Tim Gregory, former Gartmore head of UK retail funds, is to manage
a UK income and growth fund for new investment house io unit trust
managers.
The fund, which opens on October 6, will aim for a yield 10 per cent
higher than the average yield of the FTSE All Share index. It will also
seek capital growth.
The annual charge will be on a sliding scale, depending on the
fund&#39s position in the Standard & Poor&#39s UK equity income sector. For
the 13 months, however, it will be locked at 1.2 per cent.
A review of the fund&#39s rolling performance will undertaken quarterly.
Gregory says: “If we can construct a balanced portfolio that provides
investors with a solid dividend yield, some growth in their income and
the prospect for long term capital growth, we view this as an attractive
alternative to fixed income and cash.”

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