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Henderson New Star begins fund rationalisation

Henderson New Star has confirmed the merger of three funds in the first step of its fund rationalisation programme.

The assets of the New Star Hidden Value and New Star Select Opportunities funds will be both be merged into the New Star UK Alpha fund, formerly managed by Tim Steer.

In April this year the management of UK Alpha was assumed by Stephen Peak and the merger, which is expected to take place sometime between the third and fourth quarter of this year, will create a fund with assets of over £200m.

Meanwhile, the group will also merge the New Star Equity Income fund into the Higher Income fund, formerly managed by Toby Thompson. Since the merger between Henderson and New Star in April, the two funds have been managed by Graham Kitchen, the head of UK equity at Henderson, and Andrew Jones, UK equity manager.


Corporate bond funds stay favoured

Investor appetite for corporate bonds remains strong approaching the second half of 2009, although inflows have started to slow. Corporate bond funds dominated the Cofunds platforms in May, accounting for a quarter of net sales. M&G knocked its own Corporate Bond fund off the top spot with another of its fixed income offerings – Strategic […]

Broker banned

The FSA has banned South London mortgage broker Guiliano Chianelli of GCM for claiming he earned 70,000 in a self-cert mortgage application when he only earned around 9,000.

A new pension pack

Ministerial reshuffles are part of political life so we should not be surprised that both James Purnell and Rosie Winterton left their positions in the recent Government reshuffle. Purnell walked while Winterton was made regional minister in the Business, Innovation and Skills Department.

The changing world of professional connections

The Legal Services Act of 2007, which opened up the legal market to competition, has put the cat among the professional pigeons. In the words of a 2015 Law Society report on what the legal profession is likely to look like in five years’ time: “Business as usual is not an option for many, if […]


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