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Rensburg sells corporate bond fund to Gartmore

Gartmore has announced it is to buy Rensburg’s corporate bond fund which will be run by John Anderson.

Gartmore announced in February the appointment of Anderson as head of credit after securing his services from Rensburg. The deal allows Anderson to continue to run the fund at Gartmore.

Rensburg says the move is part of a strategy to focus solely on equity investment.

Rensburg joint chief executive Alex Brotherston says: “We have already established an enviable reputation for delivering consistently superior returns in UK equity investment. Rather than dilute this, we believe it makes sense for our fund management team to focus their expertise on what they do best.”

Brotherston says the firm, “in time”, will be introducing new products that specifically play to “their strengths”.

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