Gartmore Investment Management Suspends Hedge Fund Manager in Light of FSA Investigations

April 1st, 2010
| More
U.K. companies are on alert now as the Financial Services Authority investigates insider trading. Last week, Gartmore Investment Management suspended hedge fund manager Guillaume Rambourg who CEO Jeffrey Meyer suspects of breaking the firm’s rules by conducting buy and sell orders for a select group of brokers. According to a recent Bloomberg article, the compliance managers of the firm’s central desk that directs trades discovered the illicit activity on March 24th, notified the FSA the day after, and suspended Mr. Rambourg’s on March 30th. Two hours after the suspension, Gartmore’s market value had already dropped by almost one-third.

Mr. Rambourg, who spent over ten years managing some of the U.K.’s most successful hedge funds, managed £8.1 billion at Gartmore – over a third of the firm’s total assets – with Robert Guy. Mr. Rambourg and Mr. Guy, who is not being investigated, managed the firm’s $2.3 billion Alphagen Capella and $828 million Alphagen Tucana funds since their launches in 1999 and 2005, respectively. According to Bloomberg data, Tucana ranked among the top 20% of similar funds by returning 42% in 2009 while Capella grew by 12% in 2009. In February, the two managers won EuroHedge’s 2009 award for best European Equity Fund exceeding $500 million.
See Source
For Detailed Investor Profiles on these Investors, click below:
Gartmore Investment Management
Related People: Ben Wallace; Dominic Rossi; Guillaume Rambourg*; Jeff Meyer; John Bennett; Luke Newman; Roger Guy
Related Entities: Gartmore AlphaGen Avior Fund; Gartmore AlphaGen Capella Fund; Gartmore AlphaGen Crucis Fund; Gartmore AlphaGen Rhocas Fund; Gartmore AlphaGen Velas Fund; Hellman & Friedman LLC
Related Article Tags: Hedge Fund Fraud and Ponzi Scheme News


More Recent Headlines

Shareholder Activist Update: Ramius Capital & Riley Investment Management

Appaloosa Management and Carlson Capital under SEC Scrutiny

Beverly Hills’ Michael McCready sentenced to 9 years for Ponzi Scheme

Man Group, Winton and BlueCrest short British Pound…And Win Big

Seven Questions for Damian Handzy, CEO of Investor Analytics

W.K. Kellogg Foundation Launches $100 Million Emerging Manager Program

Continuing Growth of Paulson & Co. Raises Concerns

S&P Launches New ESG Index for Egyptian Stock Exchange

US Institutional Investors Turn To European Hedge Funds

Man Group discussing deals with SAC Capital and GLG Partners