Gartmore

Gartmore shares dragged on the FTSE 250 yesterday amid fears takeover talks have come to a standstill.

Gartmore's closed-ended Irish Growth fund will wrap up in the New Year, subject to shareholder approval.

Pimco, the world's largest bond fund, has called on Greece, Ireland and Portugal to step outside the eurozone temporarily and restructure their debts unless the currency bloc agrees to a radical change of course.

Henderson Global Investors is believed to have made a 95p per share offer for beleaguered fund manager Gartmore.

Gartmore is considering takeover talks with Henderson Group, according to Sky News.

Gartmore has been censured and fined $1.35m by the SEC for breaking its short-selling rules.

Skandia Investment Group (SIG) has cut an £8m mandate run by Gartmore's Ben Wallace from its £62m UK Strategic Best Ideas fund, pointing to "disappointing" returns.

Fund management should be a fabulous business proposition. Employ a few smart managers, build a marketing team, sell a sexy new idea, take in assets under management and then retire off the AMC.

Matrix has hired Angus Woolhouse, head of global institutional business at Gartmore, as chief executive of its asset management business.

Henderson Global Investors is understood to be weighing up a takeover bid for stricken rival Gartmore.