Gartmore Euro AR vehicle posts returns of 10%+

Gartmore's Roger Guy and Guillaume Rambourg have delivered returns of more than 10% since launching the European Absolute Return fund a year ago.

The £342.1m fund has returned 10.3% over the past 12 months, in line with the IMA Absolute Return sector average. Guy and Rambourg have taken 32 long positions and seven short, with Sanofi-Avenits (3.3%), France Telecom (3.2%) and ENI (2.6%) among its top five long holdings. The vehicle has a volatility of 4%, which Gartmore says is less than one fifth of those from market returns when compared with the FTSE All Share. Its average gain and average loss figures are +0.12% per day and -0.08% per day respectively, with maximum daily gain during the period at +0.7% and a maximum daily ...