Gartmore is halving the initial charge on its investment trust 'ISAit' product. Until the end of Apr...
Gartmore is halving the initial charge on its investment trust 'ISAit' product. Until the end of April for minimum investments of £3,000 the charge will be 1.5%. Intermediaries will receive full commission of 3% and 0.5% trail, writes James Thorneley.
The offer applies to all 14 Gartmore-managed investment trusts. So far during 1999/2000 the group said investors have been favouring Gartmore European, managed by Roger Guy. Over the three years to 2 February the £250m trust is ranked four out of 12 in the Micropal European peer group. During the period its share price rose by 139% compared to an average rise of 118%.
Recently the group has been receiving interest in the income shares of its split capital trusts from investors struggling to find income in a low inflationary environment.
The income shares of Gartmore British Income & Growth offer a yield of over 10%. There has also been increased interest in the international generalist, English & Scottish, according to the group.
Over three years it is ranked bottom in the international capital growth peer group with its share rising by 24.5% compared to an average rise of 90.5%.
But recently its performance has started to pick up - over three months it is ranked 14 out of 18 with its share price rising by 24.5%.
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