View more on these topics

Polin says Star carve-up is threat to image

Ignis Asset Management sales and marketing director Jonathan Polin has attacked firms for publicly pursuing “a carve-up” of New Star.

Polin believes New Star’s problems are a poor advertisement for the asset management industry. He says: “It has not been good for the industry to see the unravelling of New Star’s equity and I think that those who are publicly trying to carve up the business are doing a disservice to the fund industry, the IFA and the client.”

Neptune Investment Management has said it is keen to add parts of New Star to its business. Neptune was unavailable for comment.

New Star has confirmed it is considering possible strategic alternatives which may include a sale of the business.

The firm has denied that it is in discussions regarding an offer for ordinary shares and says it will continue to pursue the implementation of its proposed capital restructuring.

New Star founder and chairman John Duffield looks set to leave the company following a restructure of the business, although the firm has quickly moved to deny Duffield’s imminent departure, saying that he is committed to New Star during the restructure.


Clarity case

The RDR interim report contained some exc- iting proposals which would have enabled the FSA to meet all three of its primary objectives – improving clarity for consumers, raising professional standards and reducing the potential for conflict of interests that can exist in traditional remuneration practices.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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