New Star announces stellar first half

Assets under management rose 17% over the period to £24.7bn while net revenue was up 39% to £86.5m. Operating earnings increased 58% to £48.1m. In the UK market, New Star’s share of net retail sales was 17.2% while total UK funds totalled £11.1bn, up from £9.7bn at 31 December 2006. The group also had a strong first half for its international business with sales outside the UK up 313% to £743m. The group managed to weather recent market turbulence reporting net inflows of £487m into UK retail funds between 1 July and 26 September including £172m of fund inflows from the transfer of Til...