Gartmore outlines plans for MM restructure

Gartmore has confirmed plans to merge the two smallest vehicles in its multi-manager range to create ...

Gartmore has confirmed plans to merge the two smallest vehicles in its multi-manager range to create its first absolute return fund for the UK retail market. The MultiManager UK High Alpha and the MultiManager Global High Alpha funds will become the MultiManager Absolute Return Fund and will be available from October 2008, subject to shareholder and FSA approval. It will remain a NURS (Non-Ucits Retail) fund and will sit in the newly created IMA Absolute Return Sector. The group’s MM Active fund will be run as an unconstrained best ideas fund. The £88m MM Cautious fund and £314m MM B...