Gartmore to merge Japan Opportunities fund

Gartmore plans to merge its £23.6m Japan Opportunities fund into its new Japan Absolute Return fund.

The Japan Absolute Return fund, managed by John Stewart, has been approved by the FSA and is set to launch on 1 February. Japan Opportunities investors will vote on the proposed merger at an EGM on 22 January. Investors moving into the Japan Absolute Return fund will face a different charging structure, with the new vehicle carrying 20% of outperformance over the against the high water mark and hurdle. AMC remains at 1.5%. Clients also have the option of switching into another fund without paying an initial charge, with the exception of Gartmore's European Absolute Return fund. ...