Gartmore stars Guy and Rambourg 'to launch hedge fund'

Gartmore’s former fund managers Roger Guy and Guillaume Rambourg are returning to fund management with the launch of a hedge fund, according to reports.

The managers are thought to be considering London, Paris or Geneva as a base for the fund, which is likely to gain significant interest, the Sunday Times reports.

After Guy and Rambourg resigned from ailing Gartmore last year, investors withdrew billions from the money manager's funds, pushing it into a cut-price sale with Henderson.

Guy had been with the fund manager for 17 years and managed 35% of its funds under management.

Guy and Rambourg ran Gartmore's European large-cap fund. Rambourg was suspended from the firm last year amid allegations he had allowed favoured brokers execute to his trades. He then resigned from Gartmore in June.

Guy resigned a few months afterwards, prompting a further £3bn of withdrawals.

At the end of March Rambourg announced the FSA has dropped its investigation into his trading activities at Gartmore.