New Star is responding to poor performance on two of its smaller funds by announcing merger plans.
The firm says its £5.5m Japan fund will merge with the £105m New Star Pacific Growth Unit Trust, while its £7.7m North American fund will merge with the £12.6m New Star American Portfolio, a fund of funds offering. New Star says it hopes consolidating the funds, both acquired from Edinburgh Fund Managers five years ago, into “more established products with broader remits” will lead to stronger returns for investors. Amanda Gold and Greg Kerr, the current managers of the New Star Japan fund and the New Star North American fund respectively, will further focus on their institutional respons...
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