Gartmore is preparing to launch another in its series of hedge funds, which will be a UK long/short ...
Gartmore is preparing to launch another in its series of hedge funds, which will be a UK long/short portfolio to be managed by Ashley Willing.
Willing has been a part of the UK team since 1994 and has managed funds since 1997.
He runs money in the house style, focusing on unexpected earnings growth and sticking to strict sell disciplines, skills that have seen other Gartmore managers successfully moving into the long/short market.
The launch follows on from the success of Chris Palmer's AlphaGen Pictor, which has raised around $50m, and uses a long/short strategy investing in emerging markets.
The Willing vehicle is based on a strategy previously run as a private mandate for the Scandinavian institution Key Asset Management.
The funds join the AlphaGen range whose flagship is Roger Guy and Guillaume Rambourg's Alphagen Capella, a $1bn Europe long/short portfolio with a track record stretching back over 18 months.
Also in the range are AlphaGen Hokuto, launched in November 2000 and managed from Tokyo by John Stewart, and AlphaGen Cepheus, managed by Jonathan Sharpe. It focuses on European small caps and has around $200m under management.
The launch of a UK long/short portfolio will see Gartmore joining other UK institutions active in this market.
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch
To drive progress