Sanders follows Aberdeen funds to New Star

Bond manager Mark Sanders has joined New Star from Aberdeen. Sanders, who was the deputy manager on Aberdeen Fixed Interest, was away on holiday when the deal between New Star and Aberdeen for six of its retail funds was agreed so his position was initially unclear. New Star acquired three fixed interest funds plus the Technology, European Technology and Equity Income portfolios from Aberdeen. Total funds that will shift from Aberdeen to New Star are worth £1.85bn and were bought at an estimated price of £92.5m. The deal is expected to be completed on 17 February.