UK – Gartmore is expanding its hedge fund business by forming an alliance with Aspect Capital, a global hedge fund company.

The agreement, announced today, “will focus on the joint development and distribution of alternative investment products”. Together the two companies will work on developing products in different countries, initially starting in the UK and Japan. Gartmore said that initially it will focus on Aspect Capital’s managed future strategies.

Gartmore has been steadily growing its hedge fund business. It now has ten hedge funds in its range and last summer acquired Riverview International Group Inc, a specialist hedge fund of funds business in the US.

Glyn Jones, chief executive officer at Gartmore Investment Management, London, comments: “We believe in the benefits to investors of managed futures and are keen to offer such products to our client base alongside our existing hedge fund and hedge fund of funds products.

“Aspect Capital is a world-class institutional hedge fund provider with excellent resources and a strong track record in managed futures. We have established a strong working relationship and mutual respect. Together we can harness our joint skills and experience to the benefit of our clients globally,” added Jones.

Aspect is based in London, and has around two billion dollars in hedge fund assets under management, and Gartmore has around three billion dollars in hedge fund assets.

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