Skandia Investment Group's François Zagamé is keeping his conviction in Gartmore's Chris Palmer, retaining an £80m mandate with the manager within his £1bn Global Dynamic Equity fund.
Gartmore’s European hedge fund specialist Roger Guy announced earlier this month he is stepping down from fund management. Guy ran about a quarter of Gartmore’s assets, and the group saw its share price plummet more than 20% following the news. SIG axed Guy’s €38m mandate from its €325m European Best Ideas fund, but Zagamé said he is keeping faith in Palmer. With the outcome of Gartmore’s strategic review due by March 2011, Zagame said it makes no sense to do anything before then. “The situation with Gartmore is not yet run for the border, but it is important not to be complacent,”...
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