NEW Star's Guy de Blonay has urged the Investment Management Association (IMA) to create a new sector for funds which invest in financial services firms.
De Blonay runs the £186.31m New Star Global Financials fund which invests principally in the securities of financial service companies both in the UK and internationally. The portfolio is first quartile over three years and one year compared with other funds in the IMA Specialist sector, according to Lipper data up until October 31 2006, (bid-to-bid). However, de Blonay said it was time the IMA represented funds like his more effectively and removed Financials from a sector which contained funds as diverse as property and Latin America. He said: “The IMA specialist sector is no...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes