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.

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