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New Star recruits Invesco and M&G chiefs

New Star has recruited Invesco Perpetual UK manager Stephen Whit-taker and M&G Inter-national chief investment officer Theodora Zemek.

Whittaker is replacing Alan Miller at the helm of New Star&#39s £200m UK growth fund from August.

Miller is moving within New Star to concentrate on its hedge fund business.

Whittaker runs Invesco&#39s £730m UK growth fund, which will be taken over by Ed Burke, who will also continue to manage its UK aggressive focused fund.

Zemek will be setting up a new retail fixed-interest team at New Star, having headed M&G&#39s fixed-interest team prior to its merger with Prudential.

She then moved to M&G&#39s international arm but wanted to return to fixed-interest management.

Invesco Perpetual says the UK growth fund will continue to be run in the same style although it is looking to recruit new fund managers for its UK team.

Director of corporate communications Simon Anderson says: “Theo wan-ted to return to fixed-interest management but there was not a role for her here. She has not been part of the team for some time and we have the biggest team in town.”

Invesco Perpetual chief executive Mike Webb says: “I am disappointed with Stephen&#39s decision to leave which was not anticipated. Ed will continue to run the UK growth fund in the same style, drawing on the same resources, and we will look to recruit.”

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