View more on these topics

New Star’s Steer keeping his options open after takeover

New Star UK alpha fund manager Tim Steer is still undecided on his future and refuses to rule out going it alone if “the perfect opportunity” comes along.

Steer says he has yet to have detailed discussions since the £115m Henderson takeover of New Star was announced.

He says: “The discussions have been good but there are still six weeks to go before Henderson owns New Star and we have yet to talk in any detail and a lot can happen in that time.” He says that New Star was looking at launching an absolute return offering as an extension to his hedge fund last year. Henderson has a similar offering in its UK opportunities fund, run by Stephen Peak since Mileen Rash left last month.

Hargreaves Lansdown senior analyst Meera Patel says: “People like Tim and Richard Pease can have their pick of market opportunities and I would be happy to invest if they did go alone.”

Recommended

John Simmonds

Launching a new business is tricky and launching in the teeth of a recession makes the process more fraught but Bluefin Advisory Services CEO John Simmonds is upbeat about the economic headwind.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment