Gartmore Group offered a cautious outlook for the rest of 2010 in spite of seeing a net inflow of funds in the first two months of the year.

The asset manager said it had seen a net inflow of funds of £273m for January and February after surprising analysts with outflows of £143m in the final quarter of last year.

Jeffrey Meyer, chief executive, said Gartmore had seen trends improving since the market bottomed out a year ago and investors were redeeming funds.

Net new business for the year to December 31 was £252m compared with an outflow of £4.88bn a year ago.