Gartmore to target absolute returns with merged MM fund

Subject to shareholder and regulator approval, MultiManager Absolute Return fund will be available from October. It will sit in the newly created IMA Absolute Return sector and remain a non UCITS retail find (NURS). Richard Pursglove, head of UK retail, said: "Although we adopt a multi asset approach across all our MultiManager portfolios, this will be Gartmore's first absolute return strategy in the UK retail space - a move that has been driven by client demand and is a natural fit for our business." This announcement follows Gartmore's well-publicised strategic review of its multi-ma...