UK - Gartmore has announced plans for four new multi-manager funds to meet the demands of its growing investor audience.
The investment team of Bambos Hambi (pictured) and Marcus Brookes will manage the funds, to be launched on September 30.
The new funds all come under the Gartmore Portfolio and will be the cautious strategy, active strategy, UK high alpha strategy and global high alpha strategy funds.
Gartmore said the funds would compliment the existing balanced strategy fund, the largest multi-manager fund in its sector with assets of over £340m (e497.5m).
“We have been working hard to develop the Gartmore Portfolio range to meet the needs of the growing investor audience,” said Gartmore head of multi-manager, Bambos Hambi.
“With regard to the Gartmore Portfolio: Cautious Strategy Fund, we believe we are one of the first investment houses to take advantage of the new UCITs III rules.”
The asset allocation of the cautious strategy fund will be: 0 – 10% cash, 0 – 20% property, 20 – 60% bonds, 20 – 60% equities and 0 – 10% specialist funds. “This allows us the flexibility to position the fund cautiously when required and also more aggressively when market conditions permit,” Hambi said.
Neither the UK high alpha or global high alpha fund is benchmark constrained.
In addition to the Portfolio range of new funds, Gartmore will be launching a Portfolio service, available to clients investing £10,000 ore more, which will include a regular withdrawal facility, an ISA conversion facility and on-line valuation and switching facilities.
Gartmore is part of the £41.3bn international asset management business Gartmore Group.
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