Gartmore, the UK fund manager whose shares leapt 15% yesterday on the news that star manager Guillaume Rambourg was to return following an earlier suspension, has warned that it could be months before he is back to his full, frontline fund management role.

The shares leapt by 11.5% on the news released at lunchtime yesterday, and had reached a price of 164p, up 15.5%, by close of play. That is just 4p adript of where they were before they fell 31% on March 30 on the news of Rambourg's suspension for breaching the company's procedures around directing trades to particular brokers.