Gartmore Investment Management plans to set up a hedge fund-of-funds business later in the year, said Glyn Jones, Gartmore CEO. The new business will use only external hedge-fund managers, since the firm’s in-house funds are near full capacity, he said. The group also plans to launch new internally managed hedge funds, including a global macro fund, he added.
Separately, Gartmore will open a sales and marketing office in Paris, targeting both retail and institutional business. The group recently opened offices in Milan and Madrid, said Frances Davies, head of global institutional business.
