Gartmore also facing SEC probe - report

Gartmore is under investigation by the US Securities and Exchange Commission but has insisted the probe does not concern its European stars Roger Guy and Guillaume Rambourg, The Telegraph reports.

It is the third revelation about the fund group in the past week, following news high profile manager Guillaume Rambourg was fined by the Italian regulator in 2006 and also faces an internal investigation into trading breaches. "This SEC investigation is nothing new and has nothing to do with our European trading desk on which Roger and Guillaume work," Gartmore chief executive Jeff Meyer says. "No clients suffered any impact as a result of this inadvertent breach of SEC regulations, which we reported to the authorities as part of our zero tolerance approach." Meyer declined to say...