Gartmore is thought to be preparing a June launch for U.S. quant fund Absolus, which will be the 19th in the group's range of hedge funds.
Mike Gleason, Gartmore
The fund will be run by the group's quant team, headed up by Mike Gleason and Luke Smith, who joined the group three years ago from Putnam Investments.
Absolus will focus on small and mid-cap names in the U.S. market and will be the group's first move into the U.S. market in the quant space. The product is understood to be fairly scalable with capacity for around $500