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

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of