Gartmore has sold off its passive equity business to State Street Global Investors. The tracker f...
Gartmore has sold off its passive equity business to State Street Global Investors. The tracker fund business consists of 20 staff, headed by Stewart Reed, approximately 150 institutional clients and £18.1bn in assets under management. Approximately £12.1bn of the £18.1bn funds comprises client relationships which will transfer to State Street. The remaining £6bn is with on-going Gartmore clients and State Street will provide passive equity services on a sub-advisory basis. These clients principally comprise Gartmore's passive unit trusts and institutional clients that employ a combina...
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