Gartmore to create Absolute Return MM fund

Subject to shareholder and FSA approval, Gartmore plans to launch the MultiManager Absolute Return fund in October. The offering will remain as a non-UCITS retail fund and is expected to join the newly-created IMA Absolute Return sector. Gartmore says its MM Cautious Managed and Balanced funds continue to be core offerings in the range, while its Active fund keeps its ‘best ideas’ focus. “Although we adopt a multi-asset approach across all our multi-manager portfolios, this will be Gartmore’s first absolute return strategy in the UK retail space, a move that has been driven by client dem...