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News Release from: Gartmore | Subject: Investments
Edited by the Insidemoneytalk Editorial
Team on 28 May 2007
Gartmore News in Brief
Apple has 'Green' Sheen for Gartmore
Apple, the manufacturer of the Mac computer and the iconic iPod, is burnishing its green credentials as signposted by 'A Greener Apple' banner on its Website The company has committed to eliminate completely the use of toxic chemicals Brominated Fire Retardants (BFRs) and Polyvinyl Chloride (PVC) by the end of 2008
This article was originally published on Insidemoneytalk on 19 Apr 2007 at 8.00am (UK)
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This has earned Apple plaudits from Greenpeace, the global environmental pressure group.
Apple began phasing out PVC 12 years ago and began restricting BFRs in 2001.
With its commitment to eradicate these chemicals completely by the end of 2008, Apple will have stolen a march on its competitors, according to Greenpeace.
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By 2010, Apple believes it may be recycling significantly more than either Dell or HP as a percentage of past sales weight.
The company is also pledging that the e-waste collected in North America will be processed in the US and not shipped overseas for disposal.
"Corporate sustainability, including improved environmental management practices and efficient use of natural resources, can help a company to deliver superior investment performance", according to Neil Rogan, manager of the Gartmore Global Focus Fund and the Gartmore SICAV Global Focus Fund.
Moreover, he believes that, "Apple's computer business continues to offer upside, especially as the company is winning over converts from Windows-based PCs".
Apple is held by both the Gartmore Global Focus Fund and the Gartmore SICAV Global Focus Fund.
Mergers and Acquisitions: Speculation in the UK stock market last week would suggest that, if anything, mergers and acquisitions are set to accelerate.
Suggestions for possible takeover/merger targets encompassed firms as diverse as EMI, BG, Cable and Wireless and even BP.
Once, the UK's largest companies were thought to be out-of-reach of acquisitive hands, however, talk of a possible offer from BHP Billiton for Rio Tinto earlier this month would suggest otherwise.
A merger between these two would form a "mega-miner", with a market capitalisation in excess of US$250 billion.
Gartmore continues to hold a significantly overweight exposure to the mining sector, in its Gartmore UK Focus Fund, and Gartmore UK Growth Fund.
Although interest rates may be going up, they remain low enough for private equity buyers to arrange financing on attractive terms to fund acquisitions.
In addition, after an extended period of steady economic growth and low interest rates, company balance sheets and cash-flows are strong.
Increasingly it would appear that, for some companies, there is a choice to be made between acquiring assets and becoming an acquired asset.
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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