Mark Carpenter, director of Henderson’s property division, is taking over the fund and will be supported by director of UK property Marcus Langlands Pearse.
Carpenter will also run the international property fund, where he will be backed by the Henderson international property team.
Chelsea Financial Services managing director Darius McDermott says: “They have huge resources despite losing big names, so I am sure they will be fine.”
Bestinvest senior analyst Adrian Lowcock says: “The important thing is there is still a strong infrastructure in place, including the go-to managers. The New Star UK property fund has had a difficult time but it has some good, strong underlying investments.”