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Henderson locks in key Gartmore managers in £335m takeover

Henderson has agreed lock-in terms with a number of Gartmore managers following its proposed £335m takeover.

The Anglo-Australian group says the portfolio managers who run 84per cemt of Gartmore’s current assets under management, have agreed to remain with the combined group post acquisition, which is expected to be completed
by the end of the first quarter.

The managers who have agreed to join Henderson include John Bennett, Chris Palmer, Chris Burvill, Ben Wallace, Charles Awdry, Adam McConkey, Tony Lanning and Luke Newman

Gartmore suffered £4.8 billion of redemptions in the final quarter of 2010, following the sudden retirement announcement of its star manager Roger Guy.

Of those £4.8 billion of outflows, £3.1 billion was linked to Guy’s former European Large Cap team.

At January 7, 2011, Henderson estimates Gartmore had £16.5 billion of assets under management.

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