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Gartmore cautious fund will be run by new chief

Gartmore is to offer a cautious managed fund in January run by new UK head of equity income Chris Burvill, who joins the group this week from Investec Asset Management.

The fund, a sub-fund of the Gartmore investment series II Oeic, will aim to provide income of 4.5-5 per cent a year with long-term capital growth by investing in a combination of equities and investmentgrade bonds.

The investment style will be flexible but cautious – the maximum equity weighting is 60 per cent – an approach that the fund manager believes will appeal to nervous investors.

Gartmore is structuring its Isa campaign around the fund and Burvill&#39s track record at Investec, where he posted top-decile returns over five years while managing a similar fund.

Initial charge is 3.5 per cent and annual is 1.25 per cent. Commission is 3 per cent and 0.5 per cent trail. Minimum investment is £1,000 or £50 a month.

Communications executive Kimberley Robinson says: “Investors are looking to be cautious and we believe this type of fund will attract them in the coming Isa season, especially with Chris at the helm.”

Plan Invest joint managing director Mike Owen says: “There is definitely an appetite among investors for lowering their risk profiles. We prefer to create balanced portfolios ourselves but we would certainly consider the fund.”


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