Gartmore has postponed the launch of its European Absolute Return fund, saying it "would be imprudent" in the current market conditions to pursue it.
The initial offer period for the fund, to be managed by Roger Guy, was due to start on Monday 13 October, with the launch planned for 31 October. Commenting, Richard Pursglove, head of UK retail at Gartmore, said: “This is not a decision we have taken lightly - it has been made solely in the interest of our investors. With significant changes taking place in both the markets and the regulatory environment, we have decided it would be imprudent to launch a new fund at this particular time.”
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