Skandia Cuts Another Gartmore Manager

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.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note