Graham Duce

“Given the uncertainties within the Gartmore European team we have decided to sell the portfolio exposure to Gartmore European Absolute fund, replacing it with the Jupiter Absolute Return fund. There are similarities between the two: both have leading managers, are after an absolute return of excess 10 per cent, and both have a proven hedge fund background, but there is a major difference. While the Gartmore fund was more bottom up driven, the new Jupiter fund will be heavily influenced by manager Philip Gibbs’ top down reading of the markets. This will further diversify the portfolio allocation within its alternatives allocation.”