Moneymarketing.co.uk revealed this week that Steer, who also manages the £159.6 Gem- ini hedge fund, is leaving on completion of the proposed merger with Henderson next month.
Steer is to join the UK multi-cap team at Artemis and the firm has confirmed he will be working on the hedge fund side.
He will be joined at the firm by assistant manager Stephen Yiu. Steer says he will look to run a similar product to UK alpha as well as possibly launching an absolute return fund.
He says: “This is a big opportunity for me. Artemis has great ambition and I admire the way the business is run. It felt like the right time with the New Star story coming to an end.”
A Henderson spokesperson says the move “does not affect the benefits and value of the deal”.