Gartmore Grp Share Discussion Threads

[blueflex2] 19/7/2010 14:09

too early to have a bid now. I think this shares was oversold since the news of Rambourg announced.

[diku] 19/7/2010 14:04

Say 160p a share bid?...

[frizsand] 19/7/2010 14:00

Jupiter orbiting Gartmore is not so crazy after all

William Hutchings
19 Jul 2010

Barely a month has gone by since trading began in shares of Jupiter Fund Management. But the asset management industry is already rife with speculation that Jupiter has its eye on one of its quoted rivals – specifically, Gartmore.

It's not a crazy idea. Gartmore looks cheap, particularly after its share price fell to 100p last week on news that Guillaume Rambourg, a star trader being investigated by the Financial Services Authority, had resigned...

[simon gordon] 16/7/2010 14:50

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].

[diku] 16/7/2010 09:07

What exactly was the purpose of that article...typical journalism without substance...

[diku] 15/7/2010 16:05

If he is found guilty then surely he cannot have the tag attached to him as a star trader!...

[simon gordon] 15/7/2010 12:09

Markets Live on Alphaville cover GRT this morning. Broker comment is pretty negative.

Guy is very rich and could easily walk away from his c.5% stake, move to Geneva and set up shop with Rambourg. If this transpires the share could fall to 50p.

[envirovision] 15/7/2010 12:08

What ever fine he ends up with, i guess he will be selling the 4% he owns to pay for it, I assume he got his stake for free though?

[isa23] 15/7/2010 12:05

I'm in too. Now that this guy has resigned at least there's no more fear of FSA outcome. The other Guy is a major shareholder himself and his whole career is tied up with the company. Too much at stake for him to just pack up and go. My main worry would have been the debt, but with the fundraising it's down to just £85m so happy to buy on any weakness.

[hvs] 15/7/2010 12:01

Investigations going on in Italy and USA

I would stay well clear of these "COWBOYS"

[mercury123] 15/7/2010 11:21

Well I see this as a buying opportunity and have loaded up - no man is indispensible and this guy has been a drag on the share price for long enough. This must be one of the safest investments at these levels in current markets

[diku] 15/7/2010 10:59

Best time to receive a take over bid...

[diku] 15/7/2010 09:41

Surely there are a lot more good traders out there seeking opportunites that don't appear on the FSA radar screens...life goes on with or without Rambourg...

[salpara111] 15/7/2010 09:35

Finally...some good news!

[diku] 15/7/2010 09:30

looks like 2 guys supporting each other with the aid of the media reporting...

[simon gordon] 15/7/2010 09:25

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.

[diku] 15/7/2010 08:59

Maybe he was not a star trader after all!...

[envirovision] 15/7/2010 08:32

Me to, better safe than sorry

[simon gordon] 15/7/2010 08:07

I got out.

My main fear is that Guy walks and massive outflows follow.

Rambourg & Guy then set up their own hedge fund.

Rambourg owns c.4% of GRT.

[simon gordon] 14/7/2010 20:41

Alphaville:

Star trader Guillaume Rambourg resigns from Gartmore

[hvs] 14/7/2010 20:06

"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 ?

[simon gordon] 14/7/2010 19:16

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.