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Gartmore plans merger

Gartmore is proposing to merge its £46m safeguard fund into its multi-manager absolute return fund.

The firm feels the fund will struggle to maintain its track record, citing the likelihood that protecting its floor price in current market conditions will adversely affect its target of capital growth.

The safeguard fund launched in May 1996 and is in the IMA guaranteed/protected sector. It has been run by State Street’s Christopher Flood since June 2007. In the past 12 months, it has returned 1.7 per cent compared with an average of 3.4 per cent for the sector.

Gartmore favours a merger into the multi-manager absolute return fund, which is managed by Tony Lanning, as it aims to offer absolute returns over the long term but does not offer a guaranteed option.


Barclays Wealth – Defined Returns Plan – Capital Protected Options – August 2009 Edition

Barclays WealthDefined Returns Plan – Capital Protected Options – August 2009 EditionType: Guaranteed equity bondAim: Growth linked to the performance of the FTSE 100 indexMinimum-maximum investment: £3,600-£500,000, Isa £7,200Term: Three, four or five yearsReturn: Three-year option – 15% growth provided the index is at or above its initial value on the final day of the […]


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