Gartmore Launches Lookalike Hedge Fund For Former GAM Manager

Jul 1 2010 | 12:16pm ET

The Gartmore Group has launched a new hedge fund for new star manager John Bennett.

The Gartmore AlphaGen Pan-European Hedge Fund debuted yesterday, boasting that it will “be managed in a similar style to the GAM European Equity Hedge Fund,” which Bennett ran for more than 10 years before leaving GAM last summer. The new fund is domiciled in Dublin and is structured as a sub-fund of Gartmore’s Qualified Investment Fund in Ireland, designed to ensure that the fund will be unaffected by the proposed European Union alternative investments directive.

“This is a superb addition to Gartmore’s highly-respected hedge fund range with John’s ten years’ experience of running European equity long/short funds,” Paul Graham, global head of alternatives at Gartmore, said. “Investors will now be able to access his distinctive investment style and excellent track record through this latest offering.”

Under Bennett’s watch, the GAM European Equity fund enjoyed an annualized return of 7.3%.

Bennett joined GAM earlier this year, taking over the management of Gartmore’s European Select Opportunities and SICAV Continental European funds from Roger Guy and Guillaume Rambourg, just months before the latter was suspended for violating internal rules. Bennett and his team already manage €4 billion in European equities for Gartmore.

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