Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Gartmore Fledgling ends year up after rollercoaster ride

Gartmore Fledgling ends year up after rollercoaster ride

Gervais William’s Gartmore Fledgling trust has marginally outperformed, increasing the value of its portfolio 8.5% over the year to the end of June versus a 8.4% increase in its Fledgling Index.

This has led the board to recommended a final 4p dividend, up from 3.5p last year, alongside a special dividend of 2.6p, bringing the total for the year to 7.5%, 25% up on 2008.

The £79 million trust is currently trading at a 13.4% discount from a recent low of 23%.

In a statement, Gartmore head of small cap investment Williams, and co-managers Andrew Russell and Harmesh Suniara, said: ‘Over the year to 30 June 2009, portfolio performance was in line with the Fledgling Index on a mid-to-mid NAV relative basis.

‘Given the extreme volatility of the Fledgling market and substantial rebalancing undertaken during the period, we believe this result is very satisfactory.’

Chairman Jimmy West added: ‘We believe that the Fledgling Index continues to have the potential to outperform the FTSE All-Share Index over the longer-term.

‘Even following the very strong rally of recent months Fledgling companies remain more attractive than their larger counterparts on the basis of both price-to-book and price-to-sales measures. Their significantly higher dividend yields and lower debt levels are also a key attraction.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Big City Bright Future

Big City Bright Future

Big City Bright Future, the brainchild of BlackRock, is a three-week work experience programme for school leavers looking to forge a career in the City.

Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Read More
Your Business: Cover Star Club

Profile: change is the only constant for Quilter Cheviot

Profile: change is the only constant for Quilter Cheviot

This is not the first time we have profiled David Miller, but at the time of his previous appearance his company looked very different.

Wealth Manager on Twitter