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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.


Fidelity snatches “number one” spot from MAM

Fidelity Investments has snatched the mantle of top fund management group from Mercury Asset Management in the Reuters 2000 survey of larger companies.The finance directors from 250 of the FTSE 350 voted in the survey.Fidelity have regained the number-one spot from last year&#39s highest ranked fund manager MAM which is now pushed down to third […]

Canada Life Bond

Canada Life&#39s High Income Bond Series Three is targeted at investors who have used up their Isa limits and are seeking income from other investments.Linked to the Nasdaq-100 index, which includes technology stocks such as Microsoft, Apple Computers and Yahoo!, the bond pays income on a quarterly or yearly basis. There is also a growth […]

Invesco scoop top investment award

Invesco Fund Managers has received an award for operating the best performing fund available to UK investors, by Reuters subsidiary Lipper.Lipper&#39s top award, the Lipper Leader Statue, was presented to Invesco for its GT Smaller Companies fund for generating returns of 488.24 per cent in 1999.Other winners included Henry Cooke Investment Funds, Aberdeen Unit Trust […]

Matrix aims for £20m

Matrix Securities is hoping to bounce off the success of the Alternative Investment Market with launch of an AIM VCT.It is hoping to raise £20m for the Singer & Friedlander-managed VCT which opens for investment on March 1.The FTSE AIM index was up 168 per cent for the year ended January 31, comfortably beating the […]


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