New Star issues statement to advisers

The statement offered advisers further explanation about the performance of equities in general and New Star's exposure to them. It confirmed that exposure to value and cyclical stocks and the bad sentiment currently surrounding them was a root cause of the underperformance. New Star's investments in UK commercial property have also been badly affected, and the statement explained that this was partially due to the credit crunch and a lack of available credit for potential purchasers. Offering reassurance to advisers, author of the statement, Simon Hillenbrand, managing director of UK sal...