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Gartmore postpones absolute return fund

Gartmore has postponed the launch of its European absolute return fund following turbulent market conditions.

The fund was to be managed by Roger Guy and Guillaume Rambourg with its initial offer period due to start on October 13 and the launch going live on October 31.

Gartmore head of UK retail Richard Pursglove says: “This is not a decision we have taken lightly – it has been made solely in the interest of our investors. With significant changes taking place in both the markets and the regulatory environment, we have decided it would be imprudent to launch a new fund at this particular time.”

Hargreaves Lansdown senior analyst Meera Patel says: “This is disappointing as many have been waiting for the launch but given the shorting problems at present and the general market turbulence there is no need to launch a fund and put investors money at risk.”

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