Henderson UK equity manager Stephen Peak has increased his stake in troubled fund group Gartmore to 14.23%.
Peak, who owned an 11% stake in Gartmore in July, has seen the value of his investment fall by more than 50% since buying in at the IPO in December last year. The losses are mainly due to issues surrounding former star manager Guillaume Rambourg and more-recently Roger Guy's retirement plans. Speaking to Investment Week after Rambourg's resignation in July, Peak was confident Gartmore can restore investor confidence over the longer-term. "Gartmore is primarily an equity manager and in the shorter-term the company's share price is susceptible to the inflow and outflow dynamic," he s...
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