Gartmore launches new fixed income funds
LUXEMBOURG- Gartmore Investment Management has launched two fixed income sub funds for its Luxembourg-based SICAV range.
The two funds will invest in the investment grade area of the European bond market. Its European corporate bond fund will invest in high-grade European corporate bonds and is designed for those after higher risk-adjusted returns than traditional government bond funds.
Gartmore says its European bond fund aims to combine the security of government-issued debt with the yield available from global corporations.
Richard Hodges, a senior investment manager who has been with Gartmore since 1989, will oversee the two new funds.
Following the launch the SICAV now offers a total of eight sub funds covering both equity and fixed income.
Gartmore launched the original SICAV in October 2000 with five sub funds- continental Europe, pan European, European smaller companies and Japanese and emerging markets. It added a North American sub fund a year later.