New Star suspends Heart of Africa fund dealing

The Jamie Allsopp-managed fund, which had £56m in assets at 31 October, has also been hit by a weakening in sub-Saharan liquidity after market closures in Ghana and Nigeria. As a result of the dual pressures on the fund, its depositary Royal Bank of Scotland has decided temporarily to suspend dealing in the vehicle until further notice. Since its launch last November, the fund has fallen 24.4% against an 38.78% decline for the MSCI Emerging Markets Total Return Index. "Whilst we regret having to take this action, the temporary suspension of dealing is designed to restore sufficient li...