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Product category: Investment funds
News Release from: Gartmore | Subject: Investments
Edited by the Insidemoneytalk Editorial Team on 14 May 2007

Gartmore News in Brief

Gartmore adds resource to UK Sales Team

Gartmore's Asset Manager sales team has been bolstered by the hire of Paul Dagger as Regional Sales Manager Paul, who will report to Simon Clark, Head of Asset Manager Sales, will be responsible for Gartmore's Asset Manager clients in the South West, Midlands and Channel Islands

He joins from Insight Investment where he was responsible for intermediary sales in the South West and Midlands, and replaces Nigel Edwards who will be retiring in June.

Guillaume Rambourg comments on the French Election: As the polls had invariably predicted, Nicolas Sarkozy, leader of the UMP Party, was elected as the new French President last Sunday night.

He ultimately edged past socialist contender Segolene Royal by a comfortable margin (53.1% vs.

46.9%), in an election which gripped the French public (86% turnout, a level last seen in 1981).

Guillaume Rambourg, co-manager of the Gartmore European Selected Opportunities Fund and the Gartmore SICAV Continental European Fund argues that, "Sarkozy's campaign, which focused on labour and fiscal reform, and on 'putting France back to work', was the more appealing to the market, when compared to Royal's less ambitious status quo programme".

"It now remains to be seen if Mr Sarkozy will have both the energy and the will to push through the major reforms that he has pledged".

"Many have made similar promises before, but have balked when confronted by opposition in the streets." Guillaume added, "With a Sarkozy victory already factored into our stock selection process and no major movements in European markets since the election, the impact on our portfolios has been minimal." Simon King on FTSE 100: The FTSE 100 Index breached the 6600 level last Friday, continuing a strong rise that began last June.

However, the way up has not always been easy.

Over the past year, investors have had to contend with a continuing war in the Gulf, terrorist threats, Avian flu, rising inflationary pressures, higher interest rates and a strong pound.

But Simon King, Senior Investment Manager on Gartmore's UK Equities team and co-manager of the £224 million Gartmore UK Focus Fund, says that strong corporate cash-flows, robust profits growth, a growing world economy, Mand A activity and the fact that equities do not look expensive compared with bonds justify the rise".

""We've been very consistent over the past year," explains Simon".

""We've remained positive and fully invested and the strategy has worked well for us".

Despite the concerns of some investors, economies have continued to grow - spectacularly so, in the case of China - and the demand for raw materials has stayed strong.

Simon remains positive about the outlook for global demand and believes that the mining sector will continue to do well".

""We've liked mining stocks for while and this has benefited our performance." Special Offers: For the Gartmore Cautious Managed Fund, the Gartmore Global Focus Fund and the Gartmore MultiManager range of Funds, for all lump sum investments until 30 June 2007.

1% discount on the initial charge, 4% initial commission.

No Initial Charge on Investment Trust Schemes: New investments into the company's investment trust ISAit, PEPit and SAVEit schemes; No initial charge for new investments, £1,000 lump sum and minimum transfer value, £50 minimum amount for monthly savings.

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