Stephen Whittaker has stepped down as manager of the New Star Equity Income fund, to be replaced by Charles Deptford with immediate effect.
Over the past year the fund was down -34.4pc (bid-to-bid, according to Lipper, as at 16.07.08), having fallen off a cliff edge since May. Commenting, Darius McDermott, managing director at Chelsea Financial...
Since November 2008
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PARTNER INSIGHT: For many advisers, outsourcing to a multi-manager or discretionary fund manager makes sense, allowing them to focus on the adviser-client relationship
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An added tier of asset management can of course deliver additional benefits for certain investors, writes Graham Bentley - just be sure you can justify it to the regulator and, especially, the client