Gartmore sets its business plan in action with credit hedge fund

Gartmore has set 31 July as the date its credit hedge fund is available to external investors, as one prong of its three foci for business development this year and in 2004.

The single strategy alternative asset arm of Gartmore hired Varkki Chacko from Goldman Sachs and Mark Wauton from UBS Asset Management in March to run the fund. Wauton had been head of European fixed income at UBS, while Chacko had previously been a managing director at Goldman Sachs responsible for global credit strategy.