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Axe for New Star brand next year

Henderson New Star head of UK retail Mark Skinner says the New Star name is likely to be dropped early next year.

Skinner says the group is likely to rebrand to Henderson in the first quarter of 2010, once the firms have completed their integration to one admin platform.

He says: “The decision was made at acquisition to keep the New Star name in order to make life as simple as possible for the IFA community and their clients.

“However, for both those parties, New Star has become yesterday’s story. What we need is a clear brand name and that could well be Henderson.”

Henderson bought New Star for £115m in April and quickly launched the dual brand name due to New Star’s retail presence.

Skinner says the company is looking into the possibility of adding to its suite of absolute return funds.

He says: “We have a number of strong products in the area that, in cricket terms, tend to be big four or six-hitters but we are looking at products that can hit ones and twos and produce those stable returns that investors want.”

Informed Choice managing director Martin Bamford says: “The New Star name probably has more negative than positive connotations now, so I would expect the change. I can understand needing the continuity of the name when the deal first went through.”

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