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New Star is born

New Star is today launching two new funds, with a discount of 1 per cent off the 5.25 per cent initial charge for all investments received before July 20.

The UK Growth Fund, run by Alan Miller, and the European Growth Fund under Richard Pease will also offer a 2.25 per cent discount to all Pep and Isa transfers carried out through IFAs and received before July 20.

The annual management charge is 1.5 per cent.

Minimum investment in the funds is a £1,000 lump sum or £100 per month, with 3 per cent initial commission and 0.5 per cent a year trail.

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