Gartmore to buy Rensburg fund

Fund manager Gartmore is to buy rival Rensburg’s Corporate Bond fund, after poaching the vehicle’s respected manager John Anderson in February. Gartmore pounced after Rensburg decided to slim down its business following a strategic review, as it seeks to weather the financial crisis. Joint chief executive of Rensburg Alex Brotherston said the group will now focus on its core UK equity fund capability.