Assets at Gartmore grew by 19% to £22.2bn last year, boosted by net inflows into mutual funds of £485m.
Gartmore had $54.8m of earnings before tax, amortisations and depreciation.
The group took in net new business of £252m.
Overall its 52 mutual funds hold £12.2bn.
It took £900m into three absolute return mutual funds during the year.
Jeffrey Meyer, chief executive, says: "We have been managing absolute return funds since 1999 and our fund launches are based on proven strategies. The demand for these products remains strong and could possibly accelerate in the current period of volatility."
Of IFAs, Meyer says: "The UK intermediary market continues to face changes as regulation moves towards a separation of product charges from adviser remuneration.
"This may result in consolidation in the intermediary market, a growing use of platforms, and a trend to use a limited number of leading providers. We are monitoring these developments closely and believe we are well positioned as the market increasingly favours leading brands with the strongest product propositions."
Meyer flags further manager hires to add to the slew Gartmore made in 2009.
But he says recruiting will be harder this year as "incumbent employers [become] more aggressive in bidding back talent."
The £280m Gartmore raised in its December IPO was used to pay down debt, leaving the company with £85m net debt.
Meyer says: "It is our intention to reduce net debt to zero in the next few years through internal cash generation. We see no need to carry debt unless a value creating opportunity arises and it is the most effective way to fund it.
"Momentum is continuing in 2010 with £273m of net inflows for January and February. Following the IPO in December, we have achieved our objective of reducing debt, positioning us to deliver our strategy for future growth."
Gartmore's hedge funds made 19.1% on an asset-weighted basis in 2009, and about 75% of its mutual funds beat their benchmark over three years.
Meyer says Gartmore is eyeing opportunities in global macro, currency and event driven strategies, among others.
