'Individual skills make a difference'
Share
Alan Steel Asset Management consultant Alan Adam says: "I think it would
be hypocritical if our firm did not take the launch of New Star into
consideration for our clients. We were strong advocates of the bulk of the
Jupiter team and their ability to pick the right stocks. Just because they
are with a new employer does not affect their talents.
"We have always said over the years that individuals can make a difference
and we have followed key people who we have been impressed with.
Accordingly, we would want to follow some of New Star's team such as
Richard Pease."
Hargreaves Lansdown head of research Mark Dampier says: "Despite being a
new group, New Star is packed with people who are hugely experienced. With
the fund management talent of Alan Miller and the quality of Tim Steer in
research/ analysis plus Richard Pease in Europe, I would expect New Star to
attract new monies. Contrary to other comments I have seen, John Duffield
remains ext-remely hungry for the business. With the fund managers also
being equity owners, it is hard to see what extra incentive they need to do
well. IFAs who will not buy until a three-year track record is recorded
will probably miss out on some of the best years."
Michael Philips partner Michael Both says: "Deciding whether to try a new
fund manager is fraught with dangers. Experience has taught IFAs that being
a guinea pig is seldom rewarding for either the client's wallet or the
IFA's blood pressure. It is incumbent upon us to research our
recommendations thoroughly and it is easier where there is a track record
to examine.
"Contrasting New Star with Manek is easy but how about with Jupiter or
even Invesco Perpetual? Good active fund management does not happen by
accident and the track record of a fund is really that of its senior
managers."
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
