Gartmore opens in-house UK fund for investment

London asset managers Gartmore is to open its internally managed UK smaller companies long/short portfolio for investment on 1 November.

The fund, which has been managed by Gervais Williams and Rob Giles in-house since May, already has $42m in seed money but the group is looking to raise an additional $50m before hard closing the fund.

Martin Phipps, Gartmore's head of hedge funds, said the portfolio is currently invested in 110 positions and uses a bottom-up analysis in its stock selection. The m