Gartmore renames fund of funds

Gartmore is to convert its fund of fund range to a non-Ucits retail scheme, renaming the portfolios ...

Gartmore is to convert its fund of fund range to a non-Ucits retail scheme, renaming the portfolios to better reflect their investment objectives and increasing the frequency of income distribution from its Cautious fund. The range, with the exception of its Cautious portfolio which is already a Nur scheme, currently falls under the old chapter 5a rules. Gartmore decided against converting to Ucits III and instead has chosen the Nurs route as under Ucits III the managers would be restricted to a 10% in any one fund across its five fund of funds. This would mean, for example, that it could...