Gartmore has announced that it has passed the significant milestone of US$3 billion in assets under management for its hedge fund business.
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 US$3 billion and launched seven new AlphaGen Funds taking the total range to nine.
Martin Phipps, Head of Hedge Funds at Gartmore, says: "Gartmore was a pioneer in moving hedge funds into the investment mainstream with our first fund, the now US$1.4billion AlphaGen Capella Fund launched in late 1999 (currently closed to new investors). We are grateful for the support from all our investors and partners around the world who have allowed us to develop such a strong hedge fund business."
Some recent highlights include:
Background Note: Gartmore Investment Management plc is the London-based international asset management arm of Gartmore Group, a global investment management organisation committed to delivering maximum returns through a highly disciplined investment process. Offering a wide range of investment products and services, tailored to meet the varying needs of institutional and retail investors, Gartmore Group has £44.7 billion assets under management as at 31 March 2003.*
Gartmore Investment Management plc is a provider of active investment management products and services to professional advisers, private and institutional clients around the world. As at 31 March 2003, assets under management were approximately £24.2 billion. Gartmore offers investors a wide range of equity and fixed income investment funds, which cover the world's major investment markets including the US, the UK, Europe and the Far East