Gartmore snaps up cheap stocks

The asset management firm says it views the market with “cautious optimism” and has selectively added to its positions. It says its Cautious Managed fund has raised cash from well-performing holdings and invested in stocks to have suffered significant falls, including Centrica, Marks & Spencer and Unilever. Gartmore also says it is continuing to hold high exposure to other “underperforming” stocks. “The fund’s equity portfolio features high weightings in ‘mega-caps’, such as Aviva, BP, GlaxoSmithKline and Vodafone, which are trading on low valuations compared with the rest of the mark...