Red 警報 on Gartmore's failing 基金s

By James Salmon for the Daily Mail
Updated: 09:14 BST, 10 November 2010

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投資家s have been advised to 溝へはまらせる／不時着する one of Gartmore's 旗艦 基金s and to 避ける the 会社／堅い after its 星／主役にする 経営者／支配人 Roger Guy 辞職するd on Monday.

星／主役にする 出発: Roger Guy 辞職するd from Gartmore on Monday

Mr Guy is the 最新の in a string of high-profile 出発s from Gartmore, which also lost its 長，指導者 投資 officer and has had a 悲惨な year since floating on the 株式市場 last December.

Since then its 株 price has halved and it is now 捜し出すing a 買い手. The 会社／堅い manages £21bn of 投資家s' money, but many of its biggest 基金s have given poor returns. Mr Guy was a 重要な 推論する／理由 why many 私的な 投資家s chose Gartmore.

While running the £1.69bn European Select 適切な時期s between 1993 and January 2010 he 地位，任命するd an impressive 741% return, more than twice that of its peers.

Since he stopped running it, the 基金 has returned just 5.4% and stands at 72 out of 108 基金s in its peer group. Yesterday, 影響力のある 財政上の 助言者 Hargreaves Lansdown dropped the £200m European 絶対の Return 基金 ― run by Mr Guy ― from its Wealth 150 名簿（に載せる）／表（にあげる） of recommended 基金s and 示唆するd 投資家s switch to an 代案／選択肢.

It now has no Gartmore 基金s on its best buy 名簿（に載せる）／表（にあげる）.

示す Dampier, from Hargreaves Lansdown, says: 'Roger Guy was the only 推論する／理由 we recommended this 基金 in the first place, so we see no 推論する／理由 for 投資家s not to 身を引く their money.'

As 経営者／支配人 of the European 絶対の Return 基金 since January last year, his 業績／成果 has been modest, returning 4.8% compared with 9.1% by the 普通の／平均（する） 類似の 基金.

Mr Guy's European Large Cap team accounts for £3.5bn of the 会社／堅い's £20.9bn under 管理／経営.

Some 専門家s 恐れる the 星／主役にする 経営者／支配人's shock 辞職 will 誘発する the 出発 of other 最高の，を越す 経営者／支配人s, leaving tens of thousands of 投資家s in the lurch.

But Gartmore is trying to lock in remaining 基金 経営者／支配人s with lucrative 'golden 手錠' 支払い（額）s that could see them 逮捕する an 普通の／平均（する） of £1.87m each over three years.

Mr Dampier says: 'All this 不確定 makes me very nervous. I am keeping a の近くに 注目する，もくろむ on the other 基金s, 含むing European Select 適切な時期s. I certainly wouldn't 投資する any money at the 会社／堅い at the moment.'

Adrian Lowcock, at 財政上の 助言者 Bestinvest, says: 'I have no hesitation in recommending 投資家s to sell out of European 絶対の Return.' （弁護士の）依頼人s withdrew £1.2bn in the six weeks after Guy's 同僚 Guillaume Rambourg was 一時停止するd in March まっただ中に a 調査（する） by City 監視者 the 財政上の Services 当局.

Dominic Rossi, the 会社／堅い's 長，指導者 投資 officer, has been poached by Fidelity and 上級の 大臣の地位 経営者／支配人 Darrell O'Dea is also leaving. This follows the loss of Gartmore's 長，率いる of UK smaller companies Gervais Williams in September.

But some 助言者s have 勧めるd 投資家s not to panic.

Darius McDermott, managing director of Chelsea 財政上の Services, says: 'I wouldn't panic just yet. The 関心 is the knock-on 影響 if other 経営者／支配人s leave.' But many 投資家s will need little excuse to 砂漠 Gartmore.

業績／成果 of the 会社／堅い's biggest 基金s has been disappointing over one and three years.

Five of its 基金s have been 指名するd in the 最新の 位置／汚点／見つけ出す the Dog 報告（する）／憶測 from Bestinvest which 最高潮の場面s 基金s that have 終始一貫して underperformed over three years.

These are Gartmore UK Alpha, UK Growth, 現れるing Market 適切な時期s, US 適切な時期s and 全世界の 焦点（を合わせる）.

A Gartmore 広報担当者 says: 'Gartmore has put in place a 過程 to 確実にする an 整然とした handover of Roger Guy's 責任／義務s.

'Roger will also remain avail able to the company on a consultancy basis until May 2011. We have also put in place the necessary 計画（する）s to その上の incentivise and 保持する our 重要な staff.'