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Gartmore CEO Jeff Meyer says the group has seen "no material redemptions" since its decision to suspend star manager Guillaume Rambourg yesterday.

Stock analysts are putting the thumb screws on Gartmore for more details on the suspension of star manager Guillaume Rambourg, as they caution shareholders of damage to the firm's franchise and assets.

Gartmore shares closed Wednesday almost 8% up at 125p after the fallout from the suspension of star manager Guillaume Rambourg hit its stock yesterday afternoon and early this morning.

Henderson's Stephen Peak remains comfortable with his near 12% stake in Gartmore despite seeing the fund manager's share price slide more than 30% this week.

The FTSE rose by 0.3%, or 14 points, to 5686.32 this morning, buoyed by fighting talk from British Sky Broadcasting.

The financial crisis has cost the British economy up to £7.4trn in lost output, according to the Bank of England.

Midas Capital will sell off £62m in Guernsey and South African-based offshore funds over the next month in the final disposal of its non-core assets.

Gartmore's Guillaume Rambourg is being investigated for favouring certain brokers when carrying out dealings, Reuters understands.

The sudden drop in Gartmore's share price following the announcement today of fund manager Guillaume Rambourg's suspension has been illustrated in a dramatic 'cliff edge' graph.

Following the suspension of high profile Gartmore fund manager Guillaume Rambourg pending the outcome of an internal investigation in relation to trading breaches, industry figures give their reactions.