Guillaume Rambourg returns with long-only European fund
Ex-Gartmore star manager Guillaume Rambourg has returned to the UK fund industry with the launch of the Verrazzano Advantage European fund.
The Ucits-compliant Luxembourg-domiciled Sicav is the firm’s first long-only product for “external” investors, following the launch of two European equity long-short funds for qualifying investors in 2012.
Rambourg set up Verrazzano after he cleared his name following an investigation by the FSA that he had breached internal policy at Gartmore. These allegations had led to him being suspended from the firm in April 2010 but the regulator found no evidence of wrongdoing and Verrazzano then quit the firm.
Verrazzano Advantage European will invest at least 80 per cent of its assets in businesses listed in continental Europe and will have a minimum investment of £2,000.
Rambourg, who is chief investment officer at Verrazzano, says: “We’re delighted to launch our first long-only fund and make it available to a broad investment audience. It is an important milestone for Verrazzano Capital, which has evolved quickly since 2011 thanks to investor appetite for our tried and tested investment approach and the meticulous path we took to building out the institutional platform.
“Through the firm’s two senior investment officers Tomás Pintó and Karim Moussalem, the team combines long-standing continuity and an injection of new talent, enhancing an investment process that has generated significant alpha through several market cycles.”
When at Gartmore, Rambourg ran the firm’s £5.5bn European equity business alongside Roger Guy. The fund manager’s departure resulted in a halving of Gartmore’s share price and its swift sale to Henderson Global Investors.