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 fund 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 clearing his name in an FSA investigation over alleged breaching of internal policy at Gartmore.
The allegations led to his suspension from Gartmore in April 2010 but the regulator found no evidence of wrongdoing.
Verrazzano Advantage European will invest at least 80 per cent of its assets in businesses that are listed in Continental Europe and it will have a minimum investment of £2,000.
Rambourg, who is chief investment officer at Verrazzano, says: “This 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.”
When at Gartmore, Rambourg ran the firm’s £5.5bn European equity business alongside Roger Guy. Rambourg’s departure saw Gartmore’s share price halve in value and resulted in the company’s swift sale to Henderson Global Investors.
Three Counties IFA Andrew Alexander says: “It is probably a good time to launch this fund, [given] how Europe is looking.
“At Gartmore, Rambourg and Guy were the go-to people. Rambourg was always good at what he did.
“This fund sounds like it is worth considering.”