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Gartmore takes cautious steps


Gartmore Portfolio: Cautious Strategy Fund

Oeic multi-manager fund of funds

Income and growth by investing in UK bond funds, UK equity income funds, property funds and cash

Minimum investment:
Lump sum £1,000,
monthly £50

Investment split:
100% in UK bond funds, UK equity income funds, property funds and cash

Isa link:

Pep transfers:

Initial 5%,
annual 1.25%

Special offer:
Initial charge reduced to 3%

Offer period:
Until December 31, 2004

Initial 3%,
renewal 0.5%

Tel: 0800 212433

Gartmore&#39s cautious strategy fund is a multi-manager fund of funds that invests in a range of bonds, equities, property and cash.

Highclere Financial Services partner Alan Lakey harbours mixed feelings about the concept but he says if it is proven by results it should be successful. He says: “This is another manager of manager offering which might bore some, but as it emanates from the respected Gartmore team, it is deserving of scrutiny. It is clearly one to keep an eye on.”

Lake y feels the jury is still out on double charging concept, but if the Gartmore team can get it right it will appeal to those looking for active management. He also likes the classy literature.

On the downside Lakey says: “As with all multi manager propositions the investor suffers a double charge which can be as high as 3.25 per cent a year. However, if the Gartmore team provide regular outperformanec, it will be worthwhile.”

Lakey concludes: “Multi-manager seems to be as much a marketing tool as a realistic financial preposition. In effect, this removes one of the prime tasks of the investment adviser.”


Suitability to market: Good
Investment strategy: Good
Charges: Poor
Adviser remuneration: Good

Overall 7/10


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