Gartmore problems - should I switch

Primrose

Am getting a little unnerved by all the current problems at Gartmore which I suspect could mean fund managers taking their eye off the ball. Am holding their European Select Opportunities Fund. Can anybody else suggest another perhaps more reliable European alternative?

Sparky47

Primrose wrote: »

Am getting a little unnerved by all the current problems at Gartmore which I suspect could mean fund managers taking their eye off the ball. Am holding their European Select Opportunities Fund. Can anybody else suggest another perhaps more reliable European alternative?

I have held Jupiter European for several years which has performed very well.
According to Trustnet it is the top performer in the european sector over the last 12 months, although of course this is no indication of future performance.

chrismarsden

Sparky47 wrote: »

I have held Jupiter European for several years which has performed very well.
According to Trustnet it is the top performer in the european sector over the last 12 months, although of course this is no indication of future performance.

You say European (including the PIigS - 2 down 3 to go?), but there is better value PAST performance elsewhere.

Gartmore European Selected Opps R was a mere 1%, but the Jupiter European Income Acc is just as pathetic.

I use the Aberdeen Asia Pacific A Acc as a Reference benchmark, 33% last 12m to Nov 12th 2010, or if you are happy with spreads or initial charges, (which I dont like) MFM Slater Recovery, or Investec Global Gold A Acc GBP both of which are about 40%.

These figs from web:
h-l.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/g/gartmore-european-selected-opportunities-accumulation/charts

(sez I hoping the link works through the forum) Add the other funds as overlay on the charts! OOPS IT DONT AS A NEWBIE!

There may be other better performing funds, without initial charges or wide ie 6% + spreads, but I would also like to hear of them

c

jimjames

chrismarsden wrote: »

You say European (including the PIigS - 2 down 3 to go?), but there is better value PAST performance elsewhere.

Gartmore European Selected Opps R was a mere 1%, but the Jupiter European Income Acc is just as pathetic.

I use the Aberdeen Asia Pacific A Acc as a Reference benchmark, 33% last 12m to Nov 12th 2010, or if you are happy with spreads or initial charges, (which I dont like) MFM Slater Recovery, or Investec Global Gold A Acc GBP both of which are about 40%.

c

Problem is that none of these funds are European funds. By suggesting any other sector that you feel is better but if the OP wants/believes that this money should be in European funds then it doesn't help much.

There are 2 Jupiter European funds, one with much better performance than the other. I was considering that for my ISA this year as I am relatively lacking in European funds.

Old_Slaphead

Primrose wrote: »

Am getting a little unnerved by all the current problems at Gartmore which I suspect could mean fund managers taking their eye off the ball. Am holding their European Select Opportunities Fund. Can anybody else suggest another perhaps more reliable European alternative?

Gartmore ESOpps still has same fund manager so there's no reason why it's performance should change rapidly.
It's been a slightly below average performer for last 12-24 months - but nothing disasterous.

Jupiter European has/is performing well (No 2 over 1 and 3 years) but there's no guarantee it will continue.

Take a look at Trustnet for details of how European funds have done. My usual method is to look at funds towards the bottom end of the top 20 and check against recommendatiuons on various sites.

(Now I must make some decisions on my Gartmore Euro Abs - to swich or not to switch, that is the question). FWIW I'm looking at Blackrock Continental and the newish Henderson Euro Sp Sits.

Sparky47

chrismarsden wrote: »

You say European (including the PIigS - 2 down 3 to go?), but there is better value PAST performance elsewhere.

Gartmore European Selected Opps R was a mere 1%, but the Jupiter European Income Acc is just as pathetic.

I use the Aberdeen Asia Pacific A Acc as a Reference benchmark, 33% last 12m to Nov 12th 2010, or if you are happy with spreads or initial charges, (which I dont like) MFM Slater Recovery, or Investec Global Gold A Acc GBP both of which are about 40%.

c

The OP asked for another european fund not Asia Pacific which they may already have in their portfolio.
Jupiter European (not the income fund) gained 22.4% in the last year according to Trustnet, you may call that pathetic but I would call it pretty good.

Primrose

Thanks for all your comments. In the end I decided that Europe and the Euro zone was looking a little rocky at the moment so have had a slight change of strategy and switched to M & G Global Basics, which I hope won't upset my portfolio balance too much