Gartmore, the fund management company owned by US financial group Nationwide, plans to make 30 staff redundant before the end of the year.

Details of the cuts, which will affect both front and back-office staff, have not been finalised. They will occur in areas where Gartmore is not winning much business and does not have an impact on the company's fixed income and hedge fund teams, for which Gartmore is best known in the institutional market.