FSA investigation hits Gartmore shares - papers

Shares in Gartmore fell almost 4% on Monday amid continuing speculation about links between star fund manager Roger Guy and a broker caught up in a FSA investigation into insider trading.

Despite denials of any wrongdoing shares in Gartmore have fallen more than 10% over the past week amid fevered City speculation about links between Guy, a Gartmore fund manager and Clive Roberts, head of equities at Exane BNP Paribas, The Telegraph reports. A spokesman for Gartmore categorically denied any wrongdoing by staff. "No one from Gartmore is involved in the investigation," he said. Guy manages more than 20% of Gartmore's £21bn investments, alongside Guillaume Rambourg, his co-manager. The pair account for about 40% of group revenues, including performance fees. Gartmore s...