De Blonay is to continue running his global financials fund with no further plans announced by Henderson at this stage.
He says: “I believe that Henderson is fully committed to supporting my desire to restore fund performance to the levels achieved prior to 2008, and provide a stable and flexible environment to do just that. At this stage I can confirm that I have decided to join the forces of an already strong investment house to ensure continuity in the running of my mandates.”
At the announcement of the proposed deal in January, Henderson chief executive Andrew Formica acknowledged that de Blonay was one of the key targets that the group was looking to secure, stating he was “one of the top two financial managers”.
De Blonay joined New Star in September 2001 having spent the previous six years at Jupiter Asset Management. He employs a bottom-up approach on his £118m financials fund, which is up 21.3 per cent in the past five years.
The news comes only a week after New Star UK alpha fund manager Tim Steer announced his intention to join Artemis instead of Henderson.
Hargreaves Lansdown senior analyst Meera Patel: “I think it is a huge relief for Henderson, he is a good manager in a challenging area of the market.”