Nearly 30 pension funds, including Tesco, BUPA and the BBC, have filed claims at the High Court seeking damages from Henderson Global Investors over claims it took too much risk with one its funds.
Gregor Logan, the former joint chief investment officer of New Star, has said a leveraged balance sheet and poor performance from flagship funds caused the demise of the asset manager.
Former New Star head of fixed income, Theo Zemek, today told of the "appalling" atmosphere at New Star under former CEO John Duffield, in the latest twist in the employment tribunal brought by Patrick Evershed against his former employer.
Star fund manager Patrick Evershed said he raised concerns with the FSA about allegations its staff bonuses are tied to the regulator's relationships with institutions, in the latest twist during his employment tribunal.
Patrick Evershed has claimed investors in New Star's Property fund lost millions of pounds after the group continued to advertise the fund despite warnings from its property team that prices were over-inflated.
Patrick Evershed has claimed his former boss John Duffield bullied and humiliated New Star staff including withdrawing an offer of sweets from managers having a bad period of performance, according to his witness statement lodged with an employment tribunal...
John Duffield, the founder of New Star, will not be appearing in court during the case brought against his former company by Patrick Evershed, Investment Week, IFAonline's sister title, understands.
Advisers are being misled by the Investment Management Association's definition of absolute return (AR) funds, according to a senior figure at Henderson Global Investors.
Who moved where in another busy week in financial services?
Henderson's Stephen Peak complained bitterly about the £1.2m discretionary bonus paid to Gartmore CEO Jeff Meyer and demanded it be revoked.