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Burling joins New Star

Gartmore Japan manager Chris Burling is set to join New Star after working his six-month notice at the firm.

Burling ran the Japan Opportunities fund at Gartmore as well as an off shore Japan Sicav and the Japanese portion of the Asia Pacific investment trust.

He resigned after the group’s £500m May management buyout with private equity firm Hellman & Friedman and is not thought to have been offered an equity stake in the business.

The running of the on and offshore funds will pass to the US -based quants team, which Burling utilised to run the funds.

Burling’s responsiblities at New Star are yet to be announced but he is expected to be running long only funds.

One leading IFA says: “Fund managers are not cheap. Now that Gartmore are running their own book, they are paying their own wages and are looking to be as cost efficient as possible.”

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