Aim: Growth by investing in European companies
Minimum investment: Lump sum euros 2, 500, monthly euros 100
Investment split: 100% in European companies
Place of registration: Luxemburg
Charges: Initial 5%, annual 1.25%-2% depending on fund performance
Special offer: Maximum annual charge reduced to 1.5%
Offer period: Until October 29, 2005
Commission: Subject to negotiation
Tel: 0800 212433
Gartmore’s Pan European focus fund is one of nine new additions to the Gartmore Sicav fund range. This fund will contain between 30 and 50 holdings and will be managed by Gary Clarke, who currently manages Gartmore’s onshore European focus fund.
Bright Financial Services sales director Paul Breaks thinks the fund is an excellent choice for those looking for additional European exposure through a concentrated portfolio.
He says: “This fund is looking for absolute returns with no style or sector bias. It is actively managed by Gary Clarke who has an excellent track record managing the European Focus fund. He is aided by Gartmore’s highly regarded European team.”
Breaks regards the product literature as clear and informative. However, considering the potential drawbacks he says: “Due to the concentrated make up of the portfolio the fund is likely to be more volatile than many of its peers.”
He believes the Fidelity European aggressive fund offers a similar concentrated portfolio with a very good track record and that this will provide the main competition.
In conclusion, Breaks says: “The fund should do well if the Gartmore European focus fund is anything to go by. The manager has demonstrated excellent stockpicking skills and has a very disciplined approach, which should suit the concentrated nature of this fund.”
Suitability to market: Good
Investment Strategy: Good
Adviser remuneration: Average