Gartmore is running an 8% cash position in its UK technology fund as it continues to look for buying...
Gartmore is running an 8% cash position in its UK technology fund as it continues to look for buying opportunities amid sector volatility. The £58m Gartmore UK Techtornado fund uses the FTSE Techmark 100 Index as its benchmark. The index has seen a fall of 25% since the fund was launched on 16 February. The fund itself has seen a fall of 18% since then on an offer to bid basis. Tim Dainton, who carries out the day to day management of the fund, said the portfolio had a peak cash position of around 16% at the beginning of April and Gartmore has run this position down as the correction pres...
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