View the article online at http://citywire.co.uk/money/article/a465385
Citywire Selection: update on fund changes at Gartmore and M&G
Our list of investment recommendations responds to the Henderson takeover of Gartmore and a departure from M&G.
Towards the end of 2010, all Gartmore managers featuring in Citywire Selection were placed under review. At the time, Henderson made a bid to acquire the company and we were waiting for further developments on which managers might be staying or leaving.
With the deal all but completed, Henderson announced that two managers featuring in Citywire Selection would definitely be joining, namely Chris Burvill who runs Gartmore Cautious Managed and Ben Wallace who manages Gartmore UK Absolute Return . With changes set to take place over the next few months and funds being rationalised over the summer, we have decided to take the two funds off Citywire Selection for now. We will look at reinstating them when the managers settle in to their new environment.
The future of our other picks, John Anderson (Gartmore Fixed Interest ) and Dan Roberts (Gartmore UK Equity Income ), is unclear and it might take up to three months until we hear further developments. We have therefore decided to also remove Gartmore Fixed Interest and Gartmore UK Equity Income from Citywire Selection. If the managers do make the transition to Henderson, we will reassess their inclusion in due course.
In another development, Giles Worthington, fund manager of the M&G Pan-European fund has left the company and the fund has been removed from Citywire Selection. The fund is in the (IMA) Europe including UK sector and we are not currently making a direct replacement. For exposure to continental Europe, there are a number of picks that we back to generate long-term outperformance.
News sponsored by:
Making the most out of Europe’s potential means seeing things differently. Learn more about how BlackRock’s focused approach to investing in Europe helps investors unlock the continent’s vast potential.
In this guide to investment trusts, produced in association with Aberdeen Asset Management, we spoke to many of the leading experts in the field to find out more.
More about this:
Look up the funds
- Gartmore Cautious Managed Ret Acc
- Gartmore UK Absolute Return GBP R Acc
- Gartmore Fixed Interest Ret Acc
- Gartmore UK Equity Income Ret Inc
Look up the fund managers
More from us
Tools from Citywire Money
From the Forums
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add email@example.com to your safe senders list so we don't get junked.