Gartmore Investment Trusts : Fledgling Trust
plc
Return to Investment Trusts
Fund Manager
Gervais Williams
(Supported by Harmesh Suniara, Investment
Analyst) |
Registered Office
Gartmore House
8 Fenchurch Place
London
EC3M 4PB
Company No: 2974633 England & Wales |
Fund Summary
- Managed by smaller companies specialist Gervais
Williams
|
Key Facts
| Total Assets |
£85.1
million |
| Number of Holdings |
105 |
| Net Yield |
2.0%
p.a. |
| Management Fee |
0.8% p.a. on first £75m of Total Assets and 0.5%
p.a. on the excess |
| Year End |
31 August |
| AGM |
December |
| Results Announced |
February,
October |
| Dividend Paid |
March, December |
| Listed |
1994, The London Stock Exchange |
| Broker |
Cenkos Securities |
| Directors |
Jimmy West (Chairman), Rod Birkett, Peter Dicks,
John Hancox, James Kerr-Muir |
| Capital Structure |
18,826,080 Ordinary
Shares | |
Literature
Corporate Governance
Company Announcements
Fund Manager
|
|
Gervais
Williams
Senior Investment Manager
Gervais joined Gartmore in 1993 and heads the award-winning Smaller
Companies team. He has over nineteen years fund management
experience in smaller companies.
Believing strong stock selection and analytical skill set is one of
the keys to smaller companies performance, Gervais and the team
have a substantive meeting programme: circa 800 meetings per year.
Gervais has sat as a member of the DTI Investor Relations Working
Group. It is the Group's responsibility to oversee and develop
quality dialogue between smaller quoted companies and the stock
market.
Prior to 1993 Gervais spent three years at Thornton Investment
Management and he previously spent five years at Throgmorton Asset
Management as a Director.
Gervais graduated from the University of Liverpool in 1980 with an
Honours degree in Engineering.
| |
Fund Objective
| The Company seeks long-term growth in capital and
dividends from investment in the constituents of the FTSE Fledgling
(ex. Investment Companies) Index ("Fledgling Index").
Investment
Policy
The Company is managed using a hybrid investment style. At least
65% of the portfolio passively replicates the Fledgling Index. An
active overlay is then applied to up to 35% (normally likely to be
30% or less) of the Company's portfolio value, of which no more
than 20% (normally likely to be 15% or less) may be invested in
AIM-traded companies which were formerly admitted to trading on the
Official List and which meet the Fledgling Index market
capitalisation criteria. The active overlay takes the form of
higher weightings in those Fledgling and AIM companies that are
strongly favoured by Gartmore's active investment process, and/or
where directors have recently purchased their own shares.
Conversely, constituents of the Fledgling Index which are
considered unlikely to remain solvent on a one-year view are
excluded from the portfolio.
Life
of Company
An Ordinary Resolution will be proposed at each Annual General
Meeting for the Company to continue to operate as an investment
trust. If such resolution is not passed and alternative proposals
for the unitisation or the reconstruction of the Company are not
approved, the Company will be wound up. |
Important Information
The value of investments and the income from them may go
down as well as up and you may not get back your original
investment. Investment trusts can borrow money to make additional
investments on top of shareholders' funds (gearing). If the value
of these investments falls in value, gearing will magnify the
negative impact on performance. If an investment trust incorporates
a large amount of gearing the value of its shares may be subject to
sudden and large falls in value and you could get back nothing at
all. Smaller companies are riskier and less liquid than larger
companies which means their share price may be more volatile. Funds
which specialise in investing in a particular region or market
sector are more risky than those which hold a very broad spread of
investments. The level of yield may be subject to fluctuation and
is not guaranteed. Net Asset Value ("NAV") performance is not the
same as share price performance and investors may not realise
returns the same as NAV performance.
Past performance is not a guide to future performance. The value of
investments and the income from them may go down as well as up and
you may not get back your original
investment. |