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New Star opens hedge fund horizons

New Star Asset Management has opened the New Star Japan hedge fund to high-net-worth retail investors and institutional investors.

The fund is a Bermuda-based long and short equity fund that offers investors a choice of two currencies, dollar or yen. It aims to produce growth for investors in all market conditions and will focus mainly on Japanese mid-caps. It has been managed using seed money since April 2002, but now it has built up a short track record, New Star is opening it up to a wider client base.

The fund is managed by Michelle Sanders and Alastair MacGregor, who currently manage the Japanese portfolio of New Star&#39s pan Asian hedge fund. Sanders has more than 14 years experience of Japanese equities and has also worked as Kleinwort Benson Investment Management. MacGregor has five years experience of Japanese equities, including two years managing Japanese hedge funds.

Japan&#39s corporate restructuring is seen by New Star as the ideal platform for a long and short equity fund. The Japanese market is complicated, since Government reforms have not materialised, but growth in export business and increased consumer spending has helped stave off a recession.

Hedge funds can exploit these factors through going short, although this may represent high risks for investors if the wrong stocks are chosen at the wrong time. As a single hedge fund concentrating on around 80 stocks, it also lacks the diversity of a hedge fund of funds. It is likely to be of interest mainly to institutional investors who require an adventurous addition to a large well-diversified portfolio.


io Investors revisit hedge funds

io Investors, a sister company of consulting actuaries Punter Southall, has unveiled its second hedge fund of funds.The company specialises in multi-manager funds and introduced its first fund of hedge funds in October 2001. This was designed as a lower risk hedge fund, but the new product, the defensive equity fund, is a step above […]

Framlington discount deal as stars join funds

Star fund managers George Luckraft and Nigel Thomas join Framlington this week with their new employer offering discounted Pep and Isa transfers into their funds.The managers were given permission in July by former employer ABN Amro to join Framlington months before their contracts expired.Thomas will run the UK select opportunities fund – previously the capital […]

Free access to extranets

Prudential, Norwich Union and Skandia have teamed up to offer IFAs free access to their extranets.The service is part of the Unipass individual digital certificate being developed by Origo, announced at the Advisertech conference in London last week.Origo says Unipass will revolutionise the industry by saving IFAs and providers time and money by ending the […]

Baring gifts

Baring Asset Management is holding a series of global investment seminars across the UK and Ireland.The seminars will feature presentations by some of the leading fund managers at BAM on the prospects for key global markets, including fixed income, emerging markets, the UK and Asia.The series will culminate with the flagship BAM global investment seminar […]


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