Gartmore, the UK fund manager, may soon be up for sale. Owner Nationwide has hired Morgan Stanley to look into strategic possibilities which may include a sale or flotation. US insurance business Nationwide acquired Gartmore for almost �1bn five years ago from Royal Bank of Scotland and, according to analysts could be worth that if sold to a rival or floated. BNP Paribas of France is rumoured to be a potential suitor. Gartmore could prove attractive to asset managers and banks outside the UK, particularly for its hedge-fund and distribution capabilities.
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