New Star judges its own ability

New Star is to launch a fund of its own hedge funds with a 10%-15% target return, run by head of alternatives Charlie Tritton and deputy CIO Gregor Logan. At inception in June, the New Star Managed Hedge Fund will invest in all seven of the company's public hedge products, making it the only open route to Alan Miller's UK long/short fund, the New Star Hedge Fund. The fund will be a Bermuda-based open-ended fund with an initial charge of 5.25% and a minimum investment of $200,000 or £100,000. There will be no annual charges - New Star will make its money from the fees paid on the underlyi...