A new strategy has led to a new name for
Nationwide Mid Cap Growth, which will now be called
Gartmore Millennium Growth
, the U.S. money management arm of
that runs the fund, added the Gartmore label due to its partnership with London-based affiliate
Gartmore Global Partners
, according to a company announcement today. The Millennium Growth name reflects the higher-octane, New Economy tastes of fund manager Aaron Harris.
Harris, who took the fund's reins in April, has a tech bent. At the end of July, some 75% of the Gartmore fund's assets were invested in tech stocks, according to
. Before joining Villanova, Harris helped run the $343 million
Nicholas-Applegate Global Technology fund, which topped the charts last year with a whopping 494% return.
A company statement says the fund will continue to focus on mid-cap stocks, though only 37% of the fund's assets were invested in mid-caps at the end of July. The fund is up 62.1% this year, trouncing the
index and beating some 70% of its mid-cap growth peers.