A tale of two fund groups

Last week showed the contrasting fortunes of two of the most well-known fund management groups in the UK market.

Gartmore found itself the subject of intense comment on the announcement Roger Guy is stepping down from day-to-day fund management, and of equal importance, its chief investment officer Dominic Rossi is leaving to join Fidelity as CIO for its equity business. Last week’s developments, which forced the group to bring in Goldman Sachs, to advise on its strategic future, is the latest in a series high-profile events that have dogged the company since its float last year. It brings into question exactly why a fund management company needs to be a listed entity. Of course, for every Ga...