Gartmore European Selected Opps - Rating Reinstated

By SIMO SORSA 20/01/2010

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We are reinstating the 5* rating on the Gartmore European Selected Opportunities fund. The management is being handed over on 1st February from Roger Guy to John Bennett. Bennett managed European equities at GAM for over 15 years and had a similar performance pattern to Guy, albeit with slightly higher volatility during some periods. His returns have been top decile over a ten year period. While Bennett will not have the same extent of alignment as Guy who owned a large share of the firm, this is a high profile assignment so the motivation is expected to be high. He has brought his trusted analysts over with him and has experience at managing a comparable asset base. Bennett’s GAM portfolio underperformed last year but is poised to perform well if investors start focusing more on stable earnings rather than cyclicals. He stands out from many active managers at the moment with his view that markets are currently overemphasising the emerging markets story.

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Source: Financial Express