Gartmore

Gartmore CEO Jeff Meyer says the group has seen "no material redemptions" since its decision to suspend star manager Guillaume Rambourg yesterday.

Stock analysts are putting the thumb screws on Gartmore for more details on the suspension of star manager Guillaume Rambourg, as they caution shareholders of damage to the firm's franchise and assets.

Gartmore shares closed Wednesday almost 8% up at 125p after the fallout from the suspension of star manager Guillaume Rambourg hit its stock yesterday afternoon and early this morning.

Henderson's Stephen Peak remains comfortable with his near 12% stake in Gartmore despite seeing the fund manager's share price slide more than 30% this week.

Gartmore's Guillaume Rambourg is being investigated for favouring certain brokers when carrying out dealings, Reuters understands.

The sudden drop in Gartmore's share price following the announcement today of fund manager Guillaume Rambourg's suspension has been illustrated in a dramatic 'cliff edge' graph.

Gartmore has suspended high profile fund manager Guillaume Rambourg pending the outcome of an internal investigation in relation to trading breaches.

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.

Historic decision is expected to improve the prospects for many US biotech and pharmaceutical companies

Cherry Reynard looks at what the future holds for absolute return funds.