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North America beckons Gartmore

Gartmore has introduced the American focus fund.

The product is a unit trust designed for long term growth by investing in the North American market. Although it joins Gartmore’s existing stable of five US funds, this is the company’s first North American fund that invests in Canada as well.

The America-based fund team will pick out and invest in a spread of 30 stocks in the USA and Canada that the company feels offers the best long term prospects.

Gartmore has aimed the fund at investors who already have a portfolio of investments and who are looking to add a fund that offers a high level of return but which has a high level of risk.

Gartmore believes that the USA is such a large market that even if its economy suffers from a recession despite the interest rate cut on January 4, 2001, there will still be areas of the economy worth investing in.

According to Standard & Poor’s the Gartmore American fund is ranked 17 out of 80 funds, based on £1,000 invested on a bid to bid basis with net income reinvested over a three year period to January 22, 2001.

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