New Star will move Diversified

Subject to shareholder approval, the change will be made on November 6 2006 to better reflect a broadening of the portfolio’s investment remit. Upon unitholder approval, the fund, which historically focused on zero dividend preference shares, will be renamed the New Star Diversified Absolute Return fund. The company said the changes in the fund’s investment objective and policy are being made to help achieve positive returns in varying market conditions during a period in which the zeros market is contracting. In such circumstances, New Star explained the fund is expected to inc...