Burvill retains defensive stance

Gartmore manager stays defensive during difficult period on Cautious Managed vehicle

Gartmore's Chris Burvill is sticking with his defensive stance on his Cautious Managed fund amid difficult market conditions. The £644.8m portfolio aims to provide a combination of income and long-term capital growth and currently has 113 holdings. Burvill says while markets have rallied in the first week of the New Year, he believes the first half of 2009 is likely to prove a challenging period for investors. He says: "Government borrowing is spiralling and future tax increases threaten to dampen the eventual economic recovery. In addition, we fear the positive impact of lower intere...