Gartmore gains after suspended manager Rambourg returns

Fund manager Guillaume Rambourg is returning to work following his suspension from Gartmore Group after an i nvestigation into possible breaches of internal procedures . The probe related to directing trades to specific brokers, but today Gartmore said it had found "no suggestion of dishonesty or a lack of integrity in Guillaume's actions." Nor was there evidence clients suffered any losses as a result. But it admitted Rambourg did breach an internal policy regarding directing trades to brokers, although this involved just 5% of his trades over the past year. Rambourg - one of Gartmore's top hedge fund managers - will initially return as an investment analyst. The findings of the review will be passed to the Financial Services Authority, and Gartmore said it hoped after an investigation, the regulator would restore Rambourg's approved status, allowing him to take up his old job again. Shares in Gartmore had come under pressure following news of the suspension in March as investors feared it would damage the fund firm's relationship with its clients. But today they recovered 12p to 154p.