Gartmore has appointed HSBC's Global Fund Services (GFS), the investment administration and performance consultancy set up by former WM Company executives, to support funds with more than £10bn (€17.4bn) of assets.

GFS will provide investment administration services, including transaction processing, unit pricing, investment accounting, compliance monitoring and tax and statutory reporting, to 65 authorised and exempt unit trusts run by Gartmore. It is the first time that Gartmore has outsourced this function.