New Star Asset Management has burst on to the investment scene
with the UK growth fund.
It will be managed by Alan Miller, who joined New Star as chief
investment officer in January after running the Jupiter special
situations fund from May 1996 to November 2000.
Miller will have the freedom to choose whatever UK stocks he
believes will perform well and his decisions will not be restricted by
reference to a benchmark or by sector weightings.
His style is to assess companies and focus on value in this kind of economic
climate rather than following investment trends that are flavour of the month.
The UK currently has low interest rates and is a good prospect for investors.Companies are also paying less on their borrowings which boosts profits and the stockmarket, plus cheaper mortgage rates mean homeowners may have more money to spend on consumer goods.
The UK growth fund would suit investors who are looking for a general UK
fund to form the basis of their portfolio. They invest in it directly or through an individual savings account and personal equity plan transfer.
According to Standard & Poor's, the New Star GF UK smaller companies fund
is ranked 17 out of 20 companies based on £1,000 invested on a bid to bid
basis with gross income invested over one year to June 25, 2001.