Gartmore: Analysts warn of 'tidal wave' of redemptions

FLIGHT FROM GARTMORE 'INEVITABLE'

The retirement of star manager Roger Guy and exit of CIO Dominic Rossi have delivered a double blow to Gartmore's share price and called into question the future of the company. Here we give you the best responses from around the industry...

Mark Williamson, KBC Peel Hunt It is inevitable that this announcement will cause the group to haemorrhage funds under management at a point when it is still hurting from the Guillaume Rambourg debacle and loss of Gervais Williams. If the business is sold it could well prove to be a fire sale, but it also seems sensible to expedite a solution sooner rather than later with Gartmore facing the real risk of death by a thousand cuts. The events at Gartmore over the past year provided a salient reminder of how quickly businesses built on star culture can unravel. This creates a dilem...