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Gil Knight replaced on Gartmore US opportunities and growth funds

Gil Knight is to be replaced by Marsico Capital Management as manager of Gartmore’s US opportunities and US growth funds.

Marsico is based in Denver and specialises in US large and multi cap equity mandates.

The deal is an exclusive tie-in with Gartmore in the UK and the first presence for Marsico in this country. It currently manages £46.7bn in America.

Marsico will also manage Gartmore’s SICAV US opportunities fund.

BestInvest head of communications Justin Modray says: “Knight’s performance on the fund has been poor for the last two years. The US is traditionally a very difficult sector for managers to excel in and Knight has been no exception. It is no surprise that Gartmore are looking to bring in fresh blood in an attempt to revive a flagging fund.”

Gartmore Investment Management head of distribution Paul Feeney says: “First and foremost our remit was to find the best quality manager to oversee our large and mid cap US funds which remain an important asset class within our stable of funds. In terms of performance track record and corporate fit we believe Marsico is the obvious choice to oversee the interests of our clients.”


Lehman Brothers appoints Hunt as mortgage marketing director

Lehman Brothers’ Mortgage Capital has announced the appointment of Paul Hunt as director of marketing, effective from September.Hunt will be responsible for the strategic marketing of all Lehman Brothers Mortgage Capital brands including London Mortgage Company, Preferred, Southern Pacific Mortgage Limited and Southern Pacific Personal Loans and will also have a role in the launch […]

Roggemann appointed to Friends Prov and F&C boards

Gerhard Roggemann has been appointed non-executive director on both the Friends Provident and F&C Asset Management boards.Roggemann is currently a non-executive director of Deutsche Börse andvice chairman of Hawkpoint Partners Europe where he is responsible for the development of its German business. His previous board appointments include AXA Lebensvericherungs, AXA Kapitalanlagegesellschaft, Deka Bank, Fresenius, Hapag […]

Keep it realistic

Multi-manager has proved a hit with investors who are attracted by the concept of an investment professional trawling a virtually limitless universe to find the perfect combination of funds for their portfolio. However, unrealistic expectations and lack of understanding of the methodology could ultimately lead to a flood of redemptions.It is a popular misconception that […]


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