Tim Callaghan, a partner at UK investment house Gartmore, has stepped down from managing three European equity funds after a run of poor performance.

Callaghan has given up management of the Â£30m (â¬37m) European Focus, Â£50m European Growth and â¬6m ($9.6m) Eurobloc funds, and is in consultation over his future with the firm. Stephen Jones, head of the European team at Gartmore, has taken over the funds on an interim basis.

Phil Craig

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Partner steps down at Gartmore

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