New Star chief executive John Duffield pledged his allegiance to the IFA
community last week, saying IFAs would be at the heart of New Star's
Speaking at the official launch at the London Planetarium, Duffield said
he was pleased to be back in the retail fund management market.
He said: “The IFA industry is criticised from time to time but I think
IFAs are at the cutting edge of the investment industry. The IFAs are the
key people in the industry and I think you are doing a key job. We are
trying to produce the best products we can to support you. I really did try
at Jupiter to be IFA-friendly and that applies with knobs on at New Star.”
New Star's first retail funds – UK growth, managed by chief investment
officer Alan Miller, and European growth, managed by Richard Pease – are
set for launch on July 2.
Both funds' initial charge is 5.25 per cent, discounted to 4.25 per cent
until July 20. A discount of 2.25 per cent is offered on all Pep and Isa
transfers through IFAs. The annual charges are 1.5 per cent. Commission is
3 per cent initial and 0.5 per cent trail.