View more on these topics

Henderson touted for Gartmore bid

Henderson Group is rumoured to be eyeing a potential bid for Gartmore less than 18 months after completing a deal for New Star Asset Management.

According to the Daily Mail, Henderson is believed to be interested in the firm given that its share price has fallen by more than £1 since its flotation in December 2009.

Gartmore’s shares rallied by 3.7 per cent to 117.3p yesterday as speculation grew that Henderson, which has £22bn of assets under management, was the interested party.

Last year Henderson acquired New Star for a cut price £115m and the group has made no secret that it wishes to continue scouting potential acquisitions.

Gartmore has had torrid time since its flotation at the end of 2009. In March this year the group suspended Guillaume Rambourg – who alongside Roger Guy was one of the firm’s star managers – amid concerns that he had broken company trading rules.

He was reinstated as an analyst only to resign last month to clear his name amid an FSA probe of his actions.

Gartmore shares opened lower and at 8.52am they had fallen 1.54 per cent to 115.2p per share.


Wright in LVAM move

LV= Asset Management has appointed Matthew Wright as head of sales from Fidelity International, where he was head of discretionary business.


Failed AIA bid costs Pru £377m

Prudential has revealed that its failed bid for AIA has cost the company £377m as it boosted its dividend and posted profits across the group. The figure for the cost of the AIA deal does not include expected tax relief of £93m on the aborted transaction. In a teleconference this morning announcing Pru’s half year […]

VAT guidance contradicts RDR aim for advice

Financial advice will be cheaper if clients pay for it up-front rather than over the life of the product because they will not have to pay VAT, according to Skandia. Last week, HM Revenue & Customs and the Association of British Insurers issued new guidance reiterating that VAT is only payable on advice, not on […]

Pension tension as coalition cracks appear

Nigel Waterson says political tensions in the coalition means the new Government is working to a reduced timescale for pension reform. He said the tension between the Tories and the LibDems make it unlikely that the Government will last the full term. Waterson said: “In the world of pensions, we may have swapped a four […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm