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.
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- Gartmore Cautious Managed Ret Acc
- Gartmore UK Absolute Return GBP R Acc
- Gartmore Fixed Interest Ret Acc
- Gartmore UK Equity Income Ret Inc
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