Advisers are making the decision to move client funds out of beleaguered New Star Asset Management, with one platform noting a ten-fold increase in transfers away from the company's funds so far this month.
UK platforms are beginning to notice a sharp exodus from funds managed by the John Duffield-led group, with one proposition seeing £8m switched out in the first 11 days of December alone, up 900% on the corresponding period the previous month. Another platform, which could not provide a definitive figure on transfers, believes investors are moving away from "nearly all New Star funds significantly". Other fund houses are now poised to take advantage of investor doubt in the asset manager, with Schroder's European vehicle already claiming business from its New Star counterpart. "We ha...
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