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Gartmore may face £11bn loss


NatWest has refused to guarantee Gartmore will be re-hired to manage its £11bn pension fund after it is sold to Royal Bank of Scotland.


If NatWest ditches Gartmore next month, the fund manager could face loosing up to one fifth of its assets under management, bringing the total to under £40bn from £50bn.


The reduced figure could force down the price buyers are willing to pay for the company.


Last year analysts valued Gartmore at £550m, but Royal Bank of Scotland, which is taking over the sale of Gartmore, is predicted to ask for at least £700m for the company.

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