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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Gartmore Grp | GRT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 119.80 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 119.80 |
| Top Posts |
|---|
Posted at 20/12/2010 09:27 by hvs And a nightmare for the poor investors sucked in @ 220p , yes 220p.What a CITY MADE RIP OFF. |
Posted at 18/12/2010 11:33 by spob from the FINANCIAL TIMESHenderson eyes bid for Gartmore By Miles Johnson 17 December 2010 Henderson Global Investors has begun negotiations with Gartmore about making a £344m rescue bid for the troubled City fund manager. It has made a 95p per share conditional offer, a discount to Gartmore's current share price of 104.8p, which would be paid in a mix of cash and Henderson shares, according to people familiar with the talks. EDITOR'S CHOICE In depth: Hedge funds - Dec-14.SEC fines Gartmore $1.35m for trading breach - Dec-09.Aberdeen rules out buying rival Gartmore - Nov-30.Henderson tests the water for Gartmore rescue - Nov-26.Swan Street builds its interest in Gartmore - Nov-23. The terms of the deal, which Jeffrey Meyer, Gartmore chief executive, wants to complete by the end of the year, have not been finalised and there is no certainly of its success, these people said. Henderson's interest in Gartmore, which was first reported by the Financial Times last month, comes after its rival put itself up for sale after the departure of its key fund manager Roger Guy. Gartmore, which is being advised by Goldman Sachs, received two other indicative offers one from GAM, the Switzerland-based fund manager, and the other from the Japanese financial conglomerate Sumitomo but is now in exclusive talks with Henderson. Gartmore and Henderson both confirmed that they were in discussions. The move for Gartmore runs counter to Henderson's stated strategy of pursuing acquisitions in the US, but is viewed as an opportunity to add to its retail business and bolster its presence in hedge fund investment products. Last year, Henderson snapped up New Star Asset Management for £115m in a similar rescue takeover. The likely end of Gartmore's independence comes less than a year after it listed on the London Stock Exchange. Gartmore is still 20 per cent owned by the private equity group Hellman Friedman, which bought it out after it had been passed around owners including Banque Indosuez, NatWest and Nationwide Mutual. The company, one of the City of London's best-known retail fund managers, has been rocked by a series of high-profile staff departures amid which its shares collapsed by more than 50 per cent from a listing price of 220p. That made it one of the worst-performing stock market listings in Europe since the onset of the financial crisis. Guillaume Rambourg, who co-managed Gartmore's hedge fund business with Mr Guy, was suspended in March for breaching internal trading rules, later resigning from the company to concentrate on fighting a Financial Services Authority investigation into the incident. In November, Mr Guy, who managed 16 per cent of Gartmore's £20.9bn of client assets, announced that he would retire on the same day as its chief operating officer Dominic Rossi moved to Fidelity. |
Posted at 10/11/2010 13:54 by hvs My bet - and it is a gamble - is that the group of current shareholders who include the people left, leaving, and remaining in place, will work hard to retain funds such that the price when a takeover or re-privitisation happens, is a way north of 110p per sharelol !!! Lol !!!! Why is they leaving then ? And asking the mug INVESTORS to stay PUT so that they lose even more money. TYPICAL CITY THINKING , that is if they can actually THINK. Its OTHER PEOPLES MONEY and at then end ITS THE TAXPAYER. Lets PARTY. |
Posted at 06/10/2010 09:31 by smith99 I would have thought that the Nominal Market Share would still apply to big investors like RBS and as such they would have to sel in batches ? Even though that I accept that the physcological effect of a big investor dumping would have the same negative effect. |
Posted at 10/9/2010 14:54 by simon gordon Citywire - 11/8/10:Henderson not the only potential bidder Henderson is by no means the only potential bidder. Schroders is sitting on around £800 million in cash and other retail houses may be tempted by the firms hedge fund expertise. Gartmore, which has been a leader in bringing hedge fund strategies into the retail space through Ucits funds, has around £22 billion in assets. Gartmore shareholders However, any prospective bidders for Gartmore will have two main obstacles if they harbour any hopes of getting the asset manager on the cheap. First of all, with the IPO so fresh in investor memory, there will need to pay a significant premium for shareholders to sell at such depressed levels. But perhaps more importantly, there would be a lot of pressure to pay close to the IPO price becuase a large number of shareholders are staff. Fund managers Roger Guy and Rambourg own 5.40% and 3.74%, respectively, while chief executive Jeff Meyer now owns 1.26%. Likewise, Gartmore's private equity backers Hellman & Friedman, who are still the biggest shareholders in the business, are unlikely to allow their assets to be sold on the cheap after taking the company private for £550 million in 2006. So anyone thinking they can get their hands on Gartmore on the cheap should think again. |
Posted at 02/9/2010 15:46 by hvs lol !!!!lol !!!! least one senior investment figure to Gervais Williams leaving Gartmore... Think the guy should stick to producing a return to investors rather than commenting on others. |
Posted at 16/7/2010 14:50 by simon gordon Citywire - 16/7/10:Roger Guy will not follow Rambourg out, says key investor Towry's head of investment Andrew Wilson has welcomed Guillaume Rambourg's resignation, arguing his departure is a positive development for Gartmore's star manager Roger Guy and everyone else involved. Rambourg (pictured above) resigned on Wednesday, claiming he was doing so to fully focus on the FSA investigation into his alleged breaches of conduct whilst a fund manager Gartmore. Upon hearing the news, Wilson, who is a key investor in the Gartmore European Absolute Return fund and a host of other Gartmore funds, spoke to Guy about the latest developments. Roger Guy's position During the April announcement that Rambourg was to be suspended, Guy revealed there was a disagreement between himself and the management over the way the affair had been handled. However, Wilson said he felt reassured from his conversations with Guy that the star fund manager would continue with his role at Gartmore and that the previously reported comments were nothing to worry about. He said: 'I have no concerns [about Guy leaving]. We are very large investors of the fund and we are still buying it on daily basis and we wouldn't be doing that if we had concerns.' 'Roger wears his heart on his sleeve much of the time and he is entitled to his views, so I've got no problems him expressing those views. The funds are very much much his babies and that is probably why he got so emotional about [the Rambourg suspension]. |
Posted at 15/7/2010 09:25 by simon gordon I think his departure was pretty much priced in. The main danger is if Guy leaves, the risk is that one day there will be an RNS stating he has left and taken his team, then the share would tank.Alphaville - 14/7/10: "All eyes will now turn to Roger Guy, who was known to be a staunch defender of Mr Rambourg, and was, according to sources, notably angry with the decision to suspend his erstwhile colleague on a technicality earlier this year. The FT earlier revealed that Guy had told investors in his funds that the Gartmore compliance rules that had tripped his colleague up were "excessive" and that Rambourg had his full support. The incident which forced Guy to fly back from a Swiss skiiing holiday was the "most stressful" of his career, he said. According to analyst, a departure of Mr Guy as well would lead to a 40 per cent fall in revenues at Gartmore." ==== If Rambourg had stayed, been cleared by the FSA and inflows had picked up, the share would have had good upside. Now that Rambourg has left the uncertainty has ratched up to uncomfortable levels. |
Posted at 14/7/2010 20:06 by hvs "I have been faced with a challenging set of circumstances which has resulted in me not being able to optimally fulfil my duties in the best interests of shareholders and investors. I have, therefore, concluded that in the short term at least it is in nobody's interests to continue in my curr When did these CITY Anal ysts ever CARE ABOUT SHAREHOLDERS ? |
Posted at 14/7/2010 19:16 by simon gordon LONDON (Dow Jones)--Gartmore Group Ltd. (GRT.LN) Wednesday said that former star fund manager Guillaume Rambourg has resigned to deal with a probe into his conduct while managing a large chunk of its funds. Rambourg was suspended in March as part of an internal investigation by London-based asset-manager Gartmore of potential breaches to its procedures for directing trades to specific brokers. A month later, Rambourg returned to Gartmore as a senior investment analyst in its European Large Cap Team, despite allegedly breaching the policy in a small number of instances. At the time, Gartmore said that there had been "no suggestion of dishonesty or a lack of integrity" in the actions and clients weren't affected. However, it also said it would hand over its files on the matter to the Financial Services Authority. "I have taken the very difficult and personal decision to resign from Gartmore after more than 14 years so that I can devote all of my attention to cooperating with the FSA's investigation and regain approved status," Rambourg said in an emailed statement. "I have been faced with a challenging set of circumstances which has resulted in me not being able to optimally fulfil my duties in the best interests of shareholders and investors. I have, therefore, concluded that in the short term at least it is in nobody's interests to continue in my curr Until his suspension in March Rambourg was responsible for managing about a fifth of Gartmore's assets along with colleague Roger Guy. That included Gartmore's $2.3 billion Alphagen Capella Fund. Wednesday Gartmore, which had some GBP22.4 billion assets under management at the end of April, said that its European Large Cap team will continue to be led by Roger Guy and supported by Darrell O'Dea, Leopold Arminjon and Tomas Pinto. |
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