New Star to go ahead with distribution fund

New Star is to go ahead with its plans for a distribution fund, headed up by bond manager Theo Zemek, due for launch the first week of February. The equity income element of the fund, which will have a target yield of 5%, is to be managed by Toby Thompson. The group is still working on plans for an investment grade corporate bond fund to be managed by Zemek. However, the launch date has been moved back from January until later in the year, closer to the end of the Isa season. Leading up to the launch of the distribution fund, New Star will embark on a series of roadshows aroun...