Henderson Global Investors completed the takeover of Gartmore on 4 April and has announced that the Gartmore Cautious Managed Fund is moving over to the group.
Manager of the Gartmore Cautious Managed Fund, Chris Burvill, will continue in his role at Henderson, leading the fund which invests in government and corporate bonds, and equities to return a level of income and capital growth. After summer 2011, the fund will be renamed the Henderson Cautious Managed Fund.
Through active asset allocation the fund seeks to deliver consistent returns with lower volatility than a pure equity fund, and was described as a ‘high quality addition’ to the group’s fund range.
On the completion of the acquisition, Henderson chief executive, Andrew Formica, said: “Henderson shares a similar investment philosophy and culture to Gartmore which we believe should be reassuring to investors in Gartmore funds in terms of fund manager continuity and investment performance.”
Henderson said the widening of the group’s fund offering came just as investors were being encouraged to create well-balanced portfolios for their long-term investments.
Of Gartmore’s UK domiciled funds, 15 are moving directly to Henderson and keeping their names until after summer 2011 when they will use the Henderson name.
From 25 April it is proposed that 11 UK domiciled funds will take on the Henderson name and then merge with existing Henderson funds.
This includes the merging of the Gartmore Multi Manager Cautious Fund, managed by Tony Lanning, with the Henderson Multi-Manager Income and Growth Fund.
From 25 April 2011, the Henderson Multi-Manager Income and Growth Fund will be managed by existing manager, Henderson’s Bill McQuaker, and Tony Lanning.
Henderson said the combination of Bill McQuaker and Tony Lanning made for a highly regarded team with a ‘broad range of complementary skills, from macroeconomic analysis to in-depth fund and manager research.’
The Gartmore Cautious Managed Fund and the Henderson Multi-Manager Income and Growth Fund are in the Fair Investment Select 100.
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