EUROPE – UK investment manager Gartmore’s recently launched Luxembourg domiciled SICAV range of funds, aimed at institutional investors, have been granted authorisation for public distribution in Austria, Finland and Norway.

And the fund manager says it is currently awaiting further authorisation in a number of other European countries as part of the roll out of the funds in Europe.

“The Gartmore SICAV is a UCITS qualifying umbrella fund. On average it takes about two months to receive authorisation for public distribution in a European Union country.
“ We are delighted to have these authorisations approved.
“ Further applications in more European countries are underway,” says Simon Le Fevre, head of product management at Gartmore.

Gartmore SICAV, an open-ended investment company, was launched as a complementary product to Gartmore Capital Strategy Fund, a Jersey domiciled open-ended investment company, with a range of 21 funds.
The SICAV comprises five equity funds, is denominated in Euro, and offers a choice between two share classes. The funds have daily pricing and are managed by the asset manager’s London and Tokyo offices.