Friday, 30 January 2015
Last updated 1 hour ago
Dec 9 2010 | 1:54am ET
Skandia Investment Group simply isn't that impressed with the investment ideas coming out of Gartmore these days.
Just over a month ago, three Gartmore managers were represented in Skandia's range of best ideas funds. That number has now fallen to one, as the firm has fired Ben Wallace, who runs Gartmore's U.K. Absolute Return fund.
Wallace had been managing £8 million for Skandia's UK Strategic Best Ideas Fund.
"We rate Ben highly as a manager although he has not managed to recapture the strong performance of his U.K. equity long/short funds in the concentrated 10 idea portfolio he contributed to the UK Strategic Best Ideas mandate," Ryan Hughes, senior portfolio manager at Skandia, said.
Last month, Skandia cut star Gartmore hedge fund manager Roger Guy from its European Best Ideas Fund after Guy announced his retirement from the firm. Skandia still employs Gartmore's Chris Palmer, who runs £80 million for its Global Dynamic Equity fund.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…