Gartmore rolls out first fund from new absolute return range

To be co-managed by Roger Guy and Guillaume Rambourg, the European Absolute Return fund will be a UCITS III limited issue vehicle with capacity set at £200m. It will aim to deliver positive absolute returns over the long-term irrespective of market conditions by taking long and short positions in equities and derivatives and will be managed using a similar strategy to the Gartmore AlphaGen Capella fund. Richard Pursglove, head of UK retail at Gartmore, commented: "Over the last decade we have transformed our business into a specialist provider of long-only and alternative products. Th...