Friday, 19 December 2014
Last updated 10 hours ago
Apr 16 2010 | 12:20pm ET
Most investors may be sticking by Gartmore Group in the wake of the suspension of one of its top managers, but at least one is taking a big step back.
Thames River Capital’s Absolute Return Fund has halved its investment in one of the Gartmore funds co-managed by Guillaume Rambourg, who was suspended last month for allegedly directing trades to favored brokers, which violates Gartmore’s internal rules. Thames River seeded the hedge funds managed by Rambourg and Gartmore’s top hedge fund manager, Roger Guy, in the late 1990s.
The Thames River fund’s manager, Ken Kinsey-Quick, told Reuters that he is concerned about the effect of Rambourg’s suspension. The unidentified Gartmore fund now accounts for 1.5% of the £61 million Absolute Return fund, down from 3%.
Kinsey-Quick did say that Rambourg’s absence could spur even better things from Guy, and said he would consider re-upping his allocation to Gartmore in the future.
“The golden goose is on the funds,” Kinsey-Quick told Reuters. “He will be more focused on it.”
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.