Gartmore Investment Management plans to launch two hedge funds in early November. One will use a long/short European equity strategy and the other will be a currency overlay fund made up of sterling and other currencies, a company spokeswoman said.
This is Gartmore’s first concerted move into offering institutional clients alternative investment vehicles, and it comes at a time of great uncertainty for the money manager as its parent company, National Westminster Bank, attempts to fight off a hostile bid from rival Bank of Scotland.
