Gartmore merges MM funds to create AR product

Gartmore is creating its first absolute return fund for the UK market through a merger of the two sm...

Gartmore is creating its first absolute return fund for the UK market through a merger of the two smallest vehicles in its multi-manager range. The MultiManager UK High Alpha and Global High Alpha funds will come together to form MultiManager Absolute Return. This restructured vehicle will be available from October, subject to shareholder and FSA approval. It will remain a Nurs (Non-Ucits Retail Scheme) and sit in the newly created Absolute Return Sector. Elsewhere in the range, MM Active will be run as an unconstrained best ideas fund taking higher conviction sector and regional be...