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New Star appoints Tilney stalwart

New Star Investment Funds has added to its talent pool with appointment of Tilney fund manager Nicholas Sheridan.

Sheridan, who runs a European growth fund at Tilney, is a large-cap specialist and is expected to launch a new fund of that ilk once he joins the firm in the summer.

His appointment widens New Star’s scope in the European arena, with the fund expected to complement the growth vehicle run by Richard Pease and the Pan-European equity fund managed by Daniel White.

New Star director of european equities Richard Pease says: “I am delighted that Nicholas is joining New Star. He has an exceptional performance track record and his considerable talents will only strengthen our position as one of the most powerful European investment teams in the country.”

New Star has also brokered a deal with Tilney to transfer three of its Oeic sub-funds into vehicles currently managed by New Star. The three funds, Tilney european growth, UK equity and UK fixed interest, currently hold some £180m of assets under management.

The growth portfolio will transfer into a new fund established by New Star so that Sheridan can continue to manage the fund. It is anticipated that the Tilney UK equity fund and the UK fixed interest fund will be merged into New Star’s UK growth and sterling bond funds respectively.

New Star chairman John Duffield says: “We are delighted to have completed this transaction with Tilney. Our primary focus now will be to deliver the best possible investment results and the highest level of service to new investors who will be joining us as well as to our existing investors.”

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