Gartmore Group on Tuesday said Guillaume Rambourg, the portfolio manager it suspended and then reinstated earlier this year after he broke internal trading rules, is now being investigated by the Financial Services Authority.

Gartmore shares fell 2p, or 1.3%, to 122p after Tuesday's announcement. They had dropped 20% when Rambourg's suspension was announced March 30 and are down 45% since Gartmore floated on the London Stock Exchange in December.