Rensburg pursues UK equity only strategy

Rensburg Fund Management's decision to concentrate solely on UK equity investment has been reinforced by the agreement of the sale of its fixed interest capability to Gartmore Fund Managers Limited (Gartmore).

This follows the Company's announcement in February this year of the future departure in the summer of its Corporate Bond Fund Manager, John Anderson to Gartmore.

Alex Brotherston, Joint Chief Executive of Rensburg Fund Management, said: "First and foremost we looked to be able to safeguard the best interests of our fixed interest unitholders. We also wanted to work towards achieving our strategic objective - a focus on UK equity investment. By transferring ownership of our corporate bond fund to Gartmore, we think that all parties have found well-nigh the perfect solution."

He continued: "Investors in the fund retain the services of the same excellent fund manager, and there is no cost or administrative inconvenience involved; advisers can be assured of continuity of investment style so the balance of their clients' overall portfolios will be in no way disrupted; Gartmore acquires additional assets under management and boosts its fixed interest capability and we are free and unencumbered to pursue our more focused corporate strategy."

Commenting on the transfer of the fund, Dominic Rossi, Chief Investment Officer at Gartmore, said: "Both we and Rensburg felt it in the best interests of the fund's investors to maintain a continuity of manager. The more traditional nature of the fund's investment process is an excellent complement to our other UK fixed income products. John is a skilled and highly respected fund manager who has established an outstanding track record on the Rensburg Corporate Bond Trust. We look forward to welcoming the Fund and its investors to Gartmore."

John Anderson will join Gartmore in line with the transfer of the fund which is expected to be in the summer. The transfer of assets is subject to regulatory and unitholder approval.