Gartmore is to launch a cautious managed fund to be run by Chris Burvill who joined from Investec ...
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 will be launched at the end of January next year and will fill a gap in the group's product range.
Currently Gartmore does not have a fund in the cautious managed sector unlike competitors Jupiter, Threadneedle and Framlington.
The cautious managed fund will be managed along the same lines as the Standard & Poor's AA-rated Investec Cautious Managed Fund under Burvill's tenure.
The portfolio will be 60% invested in bonds and 40% invested in equities generating a significant return.
Alistair Mundy, manager of the Investec Capital Accumulator Fund, took over the management of the Investec Cautious Managed Fund following the announcement of 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 of -8.3%. Over one year it is ranked third out of 26, returning -6.8% % compared to the sector average of -10.8%.
When managing equities, Burvill favours companies producing stable earnings offering sustainable yields to investors.
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From June 2019