Fund manager Hunter Hall International says it is considering a number of takeover approaches for the business, just days after founder and chief investment officer Peter Hall quit his role suddenly.

Mr Hall, whose resignation was announced on December 28, quit for personal and family reasons. But as foreshadowed by The Australian Financial Review, there was strong speculation in the market that Hunter Hall was up for sale and the board was considering approaches.

HHI chairman Kevin Eley said on Friday the board has "received a number of approaches from parties interested in acquiring some or all of the shares of HHL.

"Several interested parties are significant players in the investment management business with experience managing Australian and global funds," Mr Eley said.

"The board is currently assessing all options to maximise value for shareholders and ensure the continued stewardship of our funds under management."

Mr Eley said the board would make a further announcement when it has more information.

Mr Hall has a six-month notice period and will be working during this period unless the board and he agree otherwise.

His decision to step down surprised investors.

"We're shocked and disappointed, Peter Hall is one of Australia's great fund managers with a long track record of continued outperformance," said Wilson Asset Management chairman Geoff Wilson said earlier this week.

WAM owns more than 10 per cent of the $300 million Hunter Hall Global Value fund.

It is understood that Mr Hall told the board of his intentions to quit on Christmas Eve and could not be talked out of the decision.

Following the resignation Morningstar told clients that it viewed his "departure as a material change to the business and a risk for fund performance".