View more on these topics

New Star shines on European leaders

New Star has introduced the European leaders fund, an Oeic that invests in Europe excluding the UK.

The fund was originally an institutional fund from World Invest, a company which was taken over by New Star. It was transferred across to the retail business because New Star&#39s existing European growth fund focuses only on small and mid caps, leaving a gap in the product range for a large cap fund. European leaders invests in large caps that the fund manager views as market leaders in Europe, with capital growth as the fund&#39s objective.

The fund is managed by Richard Lewis, who joined World invest from C apel Cure Myers in 1989. He is also Richard Pease&#39s deputy on New Star&#39s European growth fund.

When selecting stocks for European leaders, Lewis will look at individual companies on a sector basis, rather than a country basis. He will pick stocks that appear to offer growth at a reasonable price. He will also use a system called economic value analysis to give him an idea of a company&#39s true value.

Continental Europe is attracting attention because the emphasis on pension reform is boosting interest in equities and it may follow the lead of the US towards a recovery. The fund could provide an introduction to the European market for investors who want to diversify away from the domestic market. However, returns in continental Europe have not been spectacular in recent years and investors may have to wait before they see the fruits of recovery.

According to Standard & Poor&#39s, the European growth fund is ranked 24 out of 107 funds based on £1,000 invested on a bid-to-bid basis with net income reinvested over six months to April 19, 2002.

Recommended

Outside edge: David Ferguson

One of the first major issues to emerge from CP121 was the defined-payment system that must be adopted by those advisers wishing to remain truly independent, essentially requiring the charging of fees for giving independent financial advice.It is this measure more than most that has led to the capital conundrums that have arisen for many […]

Shaky grasp of reality

According to Jeremy Newbegin (Money Marketing, April 11), “an IFA can still continue to offer financial advice to the poor – they just do not charge these clients as much, off-setting commission against the smaller fee”.Not if CP121 is implemented in its current form they don&#39t.If Mr Newbegin worked in an area of real social […]

IFAs attack Gartmore&#39s refusal on zero payouts

IFAs have slammed the split-cap Gartmore monthly income trust for refusing to redeem zero shareholders in full on the due date despite having the money to do so.Gartmore admitted last week that it intends to pay zero customers just 78.4 per cent of their holdings at the end of the month although more than three-quarters […]

Skandia wants tied change

Skandia is calling on the FSA to focus on reforming the tied sector – where it believes consumer choice is unreasonably limited – but to adopt a lighter touch for IFAs, as part of its response to CP121.It is proposing a simplified regime with status disclosure and terms of business being replaced by a “needs-based” […]

Sticking to valuation discipline when investing in China

Journalist Alexis Xydias discusses the opportunities – and potential pitfalls – of investing in China with Artemis fund manager Peter Saacke. With Peter holding significant positions in China in the Artemis funds he manages, journalist Alexis Xydias quizzes Peter on the risks of investing in Chinese stocks – including over-valuations, margin trading and financial reporting issues. Click here for video

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com