Gartmore MM abandons CS property trust

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GARTMORE Multi-manager team is ditching its holding in the Credit Suisse UK Property trust, Professional Adviser has learned.

It is understood Gartmore will relinquish its holding, estimated at £8m in the fund, following the news that Credit Suisse’s seven-strong UK Property trust team headed up by Glenn Newson is to join Aberdeen Property Investors. Gartmore multi-manager head, Bambos Hambi, said: “The Credit Suisse fund was a nice find for us but I can confirm that we will be getting out. It will take longer than usual because we are dealing with bricks and mortar and it is not your usual fund but we are happy with that timescale.” Last month Professional Adviser revealed Gartmore has been lowering its ov...

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