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Gartmore cuts US fund charge

Gartmore is aiming to attract investors to the opportu-nities presented by a potential comeback in the US economy by offering a 2 per cent discount on its initial charge of 5 per cent for its US fund.

The fund firm is also offering a discount on its headstart scheme for children. Until August 29, lump sum investments will be free of the usual 1 per cent dealing charge.

The deal on the US fund, managed by Simon Melluish and Ben Walker, applies to all lump sum investments and runs until August 31. Gartmore says the £91.2m fund has achieved either first or second quartile rankings in eight of the last nine years.

There is an annual charge of 1.5 per cent on the fund which focuses its investments on large cap growth companies based in North America.

The headstart plan invests across five Gartmore investment trusts – European, fledgling, Irish growth, global trust and smaller companies. Investors will only pay a 0.5 per cent stamp duty on the package while the deal applies.

Melluish says: “The US market seems to have been bottoming out over the last six months. We hope to see better economic news coming through now the Iraqi conflict is drawing to a close, to support the move that we have seen in the markets.”

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