Gartmore has established a strategic alliance with London-based Aspect Capital Limited, one of the world's leading hedge fund companies.
Glyn Jones, CEO at Gartmore Investment Management, London, said: "We are delighted to establish an alliance with Aspect Capital. We believe in the benefits to investors of managed futures and are keen to offer such products to our client base alongside our existing hedge fund and hedge fund of funds products."
The agreement will focus on the joint development and distribution of
alternative investment products. This will build on the combination of
Aspect Capital's systematic hedge fund investment capability across a broad range of asset classes, as well as Gartmore's strong brand, fundamental hedge fund capabilities and global distribution reach.
Gartmore Group is one of the leading hedge fund houses. Gartmore recently announced that it has passed the significant milestone of USD 3 billion in assets under management for its hedge fund business.
Based in London, Aspect Capital has over USD 2 billion of assets under management and employs 72 members of staff. Aspect Capital is majority owned by its founders and management.
The partnership will work together to develop products in different geographies, primarily focusing on Aspect Capital's managed futures momentum strategies. Initial product opportunities will include Japan and the UK.
In mid-2001, Gartmore said that it would focus on active fund management and place more emphasis on building its hedge fund business. In the two years since then, Gartmore has doubled its funds under management in hedge funds to USD 3 billion and launched seven new AlphaGen Funds,taking the total range to ten. A number of further hedge funds are being "incubated".
In addition, in June 2002 Gartmore acquired 100% of Riverview International Group Inc., a specialist hedge fund of funds business based in New Jersey, USA. The now renamed business, Gartmore Riverview, manages circa USD 525 million of assets primarily for institutional clients in the United States and Japan.
Background Note: Gartmore Group has offices in the UK, Germany, Italy, Japan, Jersey, Spain, Sweden and the US, with more than 1,000 staff including 174 highly skilled investment professionals. It is wholly-owned by US insurance giant, Nationwide(r).
Nationwide(r) is a registered service mark of Nationwide Mutual Insurance Company. Gartmore Group consists of the following affiliates of Nationwide Mutual: Gartmore Mutual Fund Capital Trust SM, Gartmore Fund Managers Limited, Gartmore SA Capital Trust SM, Gartmore Capital Management Limited, Gartmore
Investment Limited, NorthPointe Capital LLC, Gartmore Japan Limited, Gartmore Global Partners, Gartmore Morley Capital Management Inc SM, Gartmore Separate Accounts LLC.
Aspect Capital is a rapidly growing systematic hedge fund company applying quantitative techniques across a broad range of asset classes. Founded in 1997, the London-based company is a world-leader in the hedge fund industry. It has an experienced team providing a range of funds to institutions and high net worth individuals worldwide. The key to Aspect Capital's success is a disciplined and innovative investment strategy implemented using advanced technology within a comprehensive risk management infrastructure.
Managed futures are an established alternative investment strategy. The global managed futures market is estimated at c. $60 billion* and has attracted significant investor interest, recently fuelled by impressive returns in the difficult market environment experienced in the last two years. Managed futures are one of the core strategies utilised by some of the largest alternative investment providers.
The trend-following managed futures strategies at the core of Aspect
Capital's capabilities aim to identify and benefit from price trends in a
large numbers of futures markets, delivering positive returns both in upward and downward trending markets. Amongst the other key benefits of managed futures is the low correlation of returns both to traditional and other alternative strategies, making them an attractive option in constructing efficient investment portfolios.
*Source: Barclays Trading Group,Ltd Fairfield IA as at 31.12.2002
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