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Henderson New Star plans new fund for Pease

Henderson New Star is planning the launch of a new fund for European fund manager Richard Pease, Money Marketing can reveal.

The European special situations fund is currently in the developmental stage, with the fund understood to be launching over the summer.

Pease was one of a number of leading fund managers to commit to Henderson following its takeover of New Star, which was completed in April. His £469m European growth fund is currently top quartile in the IMA Europe ex-UK sector over three years.

He says: “The fund will be smaller and more flexible than my European growth fund. I will look to invest in companies that I believe are fundamentally sound, however, have been excessively punished due to negative market sentiment.”

Pease says he will look to invest in the new fund, having recently placed £0.5m in both his European growth fund and the high yield bond fund run by James Gledhill.

Hargreaves Lansdown senior analyst Meera Patel says: “This could be an opportune time for special situations recovery investing, not just in Europe but globally. The way Richard Pease runs money in terms of a small and mid-cap focus means he is the right type of manager for a fund of this ilk.”

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