Gartmore to woo advisers

ASSET manager Gartmore is to launch a national roadshow aimed at persuading independent financial advisers the group is recovering from the traumatic departure of one of its star fund managers, Guillaume Rambourg, and the net withdrawal this year of £1.9bn in funds.

The firm will meet more than 2,700 advisers before the end of the year with the aim of convincing them its retail investment funds are still a safe bet for their clients.

The roadshow will be supported by an advertising campaign focusing on the investment firm’s growth expertise in absolute return and fixed income funds. It will also be adding to its US equity fixed income and special events driven teams.

Gartmore manages around £20bn in assets but has had a tough year with confidence in the firm rocked by an investigation by the Financial Services Authority (FSA) into trades conducted by Rambourg, who had been part of the group’s pan-European equities team headed by Roger Guy.

Rambourg was initially suspended in March but reinstated as an analyst before leaving the company in July to assist the FSA investigation.

Gartmore has seen 40 per cent wiped off its value since listing on the stock market in December 2009, losing a third of its share price as a result of the investigation into Rambourg’s trades.

Gartmore chief executive, Jeff Meyer told a Sunday newspaper: “We want to show it is business as usual. We want to demonstrate a positive energy about Gartmore.”