Green, who joined from RCM on June 2, will replace Toby Thompson who will be left to focus on his underperforming higher income fund.
Green’s appointment comes as part of a spate of changes by New Star founder John Duffield following poor performance across the UK retail arm.
James Ridgewell’s UK special situations fund was merged into Tim Steer’s UK alpha fund in February, while last month saw the group’s US fund managed by Greg Kerr and Japan fund run by Amanda Gold merged into Mark Harris’s North American portfolio and Ian Beattie’s Pacific growth fund respectively.
The managed distribution fund is currently fourth quartile in the IMA cautious managed sector, having returned 11.6 per cent in the past three years.
Gregor Logan will continue as lead manager on the fund with James Gledhill responsible for the fixed income component of the fund.