Sept. 5, 2002 -- Gartmore Group said it has appointed Simon Melluish to manage its flagship $1.6-billion Gartmore Total Return Fund (NWFAX), succeeding Charles Bath, who will leave the firm on September 20 to join Diamond Hill Investment Group.
Bath had managed the fund since late 1985. William H. Miller, who has co-managed the Total Return fund with Bath since September 2000, will remain as co-manager.
Melluish will also take over management of the Gartmore Nationwide Leaders Fund (GULAX) from Bath, according to Young Chin, U.S. chief investment officer of Gartmore Global Investments.
Diamond Hill's president Ric Dillon said that Bath will become the firm's managing director of equities, and will also manage the Diamond Hill Large-Cap Fund (DHLAX), succeeding Dillon and Christopher Bingaman.
Dillon continues as co-manager of Diamond Hill Focus Fund (DIAMX) and Diamond Hill Small-Cap Fund (DIAMX). Bingaman continues as manager of Diamond Hill Bank & Financial Fund (BANCX).
The Gartmore Total Return fund has declined 15.4% year to date through September 4. For the three-year period ended in July, the fund lost 10.7% annualized, versus a loss of 10.3% for the average large-cap blend fund.
The $3.2 million-Nationwide Leaders fund, which recently changed its name from Gartmore US Leaders Fund and launched in January of this year, has dipped 0.30% year to date through September 4.
Based in Conshohocken, Pa., Gartmore Global Investments is an asset management subsidiary of Nationwide Mutual Insurance Co.