Sacha Sadan appointed manager of Gartmore UK Focus
Sacha Sadan has replaced Simon King as manager of the Gartmore UK Focus fund. King had run the fund since launch in 2001 and performance was initially spectacular, with the fund one of the top performers in the IMA UK All Companies sector in its first three years. However, the fund has been consistently disappointing since 2004, culminating in the removal of King’s co-manager Ashley Willing in November 2008. Sadan’s appointment is temporary - Gartmore’s new Head of UK Equities Leigh Himsworth will take over the fund when he joins the company later this year. Gartmore are also proposing to change the fund’s name and objective - if approved, these changes will also take place later this year.
Recommendation
This fund is no longer rated by Bestinvest and, though we will monitor closely the forthcoming changes, we continue to suggest clients switch out. Our top rated funds in the UK All Companies sector include BlackRock UK Special Situations, AXA Framlington UK Select Opportunities and M&G Recovery.
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Source: Financial Express