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Gartmore takes share of Inter-Alliance

Investment house Gartmore has taken a 12.11 per cent shareholding in IFA group Inter-Alliance through 21 of its funds.

The investment represents the aggregation of 21 funds managed by Gartmore and its subsidiary Fenplace.

Gartmore says it sees Inter-Alliance as an attractive investment because of its use of technology to improve productivity, its commitment to training and the company&#39s culture and values.

Gartmore believes the success of the Inter-Alliance format can be seen in its development into a major player in the IFA market since its launch in 1994 and flotation on the Alternative Investment Market in 2000.

Inter-Alliance has 70 offices worldwide and a market capitalisation of around £200m.

The company says it offers the widest range of unit trusts, investment trusts and open-ended investment companies over the internet in the UK.

Gartmore UK small capital investments fund manager Gervais Williams says:

“Increased wealth and the decline of direct salesforces make the IFA sector a profitable one. Inter-Alliance has used its momentum to create opportunities to buy more companies and set up new offices.”

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