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New Star announces record first half results

New Star Asset Management has revealed record first half returns this year with net UK retail sales up 54 per cent to £1.1bn.

Assets under management were also up over the past six months by some 17 per cent, standing a total of £24.7bn, while international sales rose 313 per cent reaching £743m.

Net revenue also rose by some 39 per cent to £86.5m while shares saw a marked rise of 72 per cent to 17.4p, having been 10.1p at the end of June 2006.

New Star chairman John Duffield says: “We have had a record first half. We now face a somewhat more challenging environment. Subject to markets not deteriorating, we remain robust about our prospects for the full year and expect to continue to generate growth from our well diversified product range in the medium term.”


Keep calm after the storm

Apologies for the crass use of a classic REM song but It’s The End Of The World As We Know It (And I Feel Fine) sums up the situation at present. If the prophets of doom are to be believed, in a month’s time, the market will be in meltdown and some major lenders will be no more.

Out of context

“I love those freefone numbers – not the porn or the horoscopes, the other ones.”Thinc Group director of mortgages Alex Murray “I can do what I like in my Lycra in the privacy of my own home.”Murray again “You look like you’re going to a funeral.”Justin Urquhart Stewart of red-braces fame comments on MM editor […]


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