View more on these topics

Product matters

You may groan at the thought of another New Star fund and wonder how this one can differentiate itself from some of the other funds in the stable. Well, for a start, its UK special situations offering is a tiny fund at only £2.5m and it is not being run by a fund manager you will have heard of. His name is James Ridgewell.

Ridgewell has been working in the City for six years, spending time with Abbey Life and then World Invest prior to its takeover by New Star.

For the last 12 months, he has been running this fund but he has also been helping Stephen Whittaker on the UK growth fund, something he has found enormously beneficial.

This is a special situations fund in the true sense of the phrase. It is a bottom-up, stock-specific fund that will invest just about anywhere. There are currently 80 holdings but Ridgewell is keen to reduce this to 65-70.

The market cap split is fairly even between large-cap, mid-cap and small-cap stocks. However, Ridgewell points out that this is as a result of stock selection rather than tactical asset allocation.

Valuation is a very important factor but the management, especially in small companies, is even more important. What really comes through is that Ridgewell will look at any stock, regardless of size or sector, and that no one rule fits all in investment terms.

This is an interesting fund that has no constraints and a fund manager with only a short track record, albeit an excellent performance. It is one worth watching for the future. You do not have to wait until a fund is £30 or £50m before you start buying it.

Ben Yearsley is investment manager at Hargreaves Lansdown


BBB and Inter call off merger talks

Berkeley Berry Birch and Inter-Alliance have announced they have broken off merger talks. A stock exchange announcement issued today confirmed talks have been abandoned. Had it been successful the merger, which was originally announced in January, would have created the fourth largest IFA. Following the announcement Inter-Alliance&#39s share price increased slightly to 1.32p from 1.25p […]

A consumer&#39s view

The revelation that high-street banks have been using an estimated £15bn lying in dormant bank accounts to boost their profits paints an unedifying picture of these institutions. Since the money quite clearly belongs to customers, why not do the decent thing and use it to reduce bank charges across the board or some other such […]

Call for Treasury to end unease on home reversions

The Treasury must move to introduce regulation of home reversion schemes because its failure to do so is continuing to cause unease in the mortgage industry, according to the Consumers&#39 Association. Senior policy adviser Laurence Baxter expressed concern over the issue of equity release in a speech at last week&#39s mortgage lending strategy summit. The […]

Coventry Building Society – First Time Buyer 1.69% Discount

Type: Discounted-rate mortgage Discounted term: Until May 31, 2007 Discount: 1.69% Payable rate: 4.35% Minimum loan: £1 Maximum loan: Up to 90% of valuation subject to a maximum of £200,000 Income multiples: Up to 3.75 times principal income plus second or three times joint Conditions: Capital repayments of up to 5% a year allowed without […]


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