Gartmore to launch two hedge funds

Gartmore is launching a European equity hedge fund run by Roger Guy and aimed at the institutional market. The AlphaGen Capella fund, a long/short fund with a target annual return of 20% above its net asset value, will be jointly run by Gartmore's investment manager Guillaume Rambourg. Gartmore is also launching a Dublin-based open-ended unit trust investing in the liquid bond and global currency markets. The AlphaGen Selector fund will be run by Bob Jolly, head of fixed income portfolio management, and James Binny, a senior investment manager. It is awaiting final approval from the Centr...