Monday, 27 April 2015
Last updated 40 min ago
Sep 29 2010 | 9:17am ET
One of Gartmore Group’s funds is flying the coop in the wake of the resignation of its manager.
The £51 million Growth Opportunities Fund’s board has voted to fire Gartmore and merge with the £75 million Artemis Alpha Trust, which is run by Artemis Investment Management. The fund earlier this month issued a notice of termination to Gartmore following the exit of manager Gervais Williams, one of Gartmore’s top fund managers.
The trust interviewed 14 management firms before picking Artemis.
Investors in Growth Opportunities will have to approve the new management plan and merger in December. To sweeten that pot, the fund plans to allow investors to redeem up to 30% of their investments at a discount to net asset value of just 5%; the fund currently trades at a 9% discount.
Another Gartmore fund, Irish Growth, is also considering switching managers. Williams also managed Irish Growth.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…