Gartmore is to launch a cautious managed fund to be run by Chris Burvill, who joined from Investec t...
Gartmore is to launch a cautious managed fund to be run by Chris Burvill, who joined from Investec this week.
It is expected the fund, which will fill a gap in the group's product range, will be unveiled at the end of January next year.
Gartmore does not currently have a fund in the cautious managed sector, unlike competitors Jupiter, Threadneedle and Framlington.
The fund will be run along the same lines as the Standard & Poor's AA-rated Investec Cautious Managed fund, which Burvill previously ran.
It will be 60% invested in bonds and 40% invested in equities, generating a significant return, the group said.
Alistair Mundy, manager of the Investec Capital Accumulator fund, took over management of the Investec Cautious Managed fund following Burvill's departure.
Over three years the Investec fund is ranked first out of 19 in the cautious managed sector, returning 1.2% compared to the sector average falls of 8.3%. Over one year, it is ranked third out of 26 funds in the sector, returning -6.8% compared to the sector average of -10.8%.
When managing equities, Burvill favours companies producing stable earnings and offering sustainable yields to investors.
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