The Pan European focus fund is one of nine new additions to the range, but as it is a new fund as opposed to a merged fund, Gartmore is making a special effort to market it to IFAs.
This fund will contain between 30 and 50 holdings and will be managed by Gary Clarke. Clarke is a senior investment manager at Gartmore and has previously managed European equities at Rothschild Asset Management and HSBC. Clarke currently manages Gartmores European focus fund, an onshore Oeic investing in Europe excluding the UK.
In common with the inshore fund, the Gartmore Sicav Pan European focus fund will have a concentrated portfolio of between 30 and 50 holdings. These holdings will be the fund managers best ideas for stocks which are likely to generate positive returns for investors. As the number of holdings is limited, the fund is likely to have a greater potential for growth and can react more quickly if market conditions change. However, the flip side of this is higher risks because there is less scope to carry weaker stocks.
The best ideas are generated by a screening process which looks at growth potential, valuation and earnings. Clarke will be supported in this by a team of analysts and he can also draw on the skills of other managers within the Gartmore group.
Data from Trustnet shows the Gartmore European focus fund is ranked 13th out of 97 funds over one year to March 29, 2005 in the IMA Europe excluding the UK sector. It produced a positive return of 24.2 per cent 7.5 per cent less than the top ranking Jupiter European special situations fund and 19.3 per cent above the bottom performing F&C European prime fund.