Gartmore Investment Management has selected Goldman Sachs as prime broker for AlphaGen Hokuto, its new offshore Japanese hedge fund.

Gartmore has launched this Cayman Island-based fund on the back of increased institutional investor demand in its existing $200m (€236m) Trend & Combination hedge fund. The long/short fund was launched two-and-a-half years ago as an investment trust joint venture between Nippon Credit Bank and Gartmore for Japanese retail investors, said Martin Phipps, responsible for Gartmore's hedge fund business.