UK - Gartmore Investment Management is targeting the DC market after opening its flagship retail fund, the Cautious Managed Fund, to institutional investors.
The fund – run by head of equity income Chris Burvill – invests in a mixture of UK equities, gilts and investment grade corporate bonds, and has returned 10.5% since its launch on January 31.
Gartmore head of pooled client service Steve Nimmo said the fund – which is 60% invested in equities – would appeal to DC investors who wanted the potential outperformance offered by the stock market without having to make asset allocation decisions.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
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