Hargreaves Lansdown head of research Mark Dampier believes a merger of Jupiter and Gartmore is likely to have a detrimental effect on the two fund houses.
Commenting on speculation linking the two groups to a potential 40bn tie-up, Dampier says: “I’m not crazy about it because I don’t like fund house mergers unless they intuitively link together.”
“Jupiter have their own people and I can’t see them matching well with Gartmore.”
He adds: “Gartmore have just settled down so I find it hard to believe they would want to shake things up again.”
