New Star News

By Alexander Davies | 22 Jan, 2008

There was a lot of press comment last weekend following the fall in New Star’s share price on Friday. The stock fell almost a third, due to the profit warning New Star announced, and plans to cut the dividend. The shares are now trading significantly lower than their all time high.

You may be wondering if this will affect the New Star funds. The answer is that it shouldn’t directly, the two are separate.

John Duffield, New Star’s founder and chairman, has a vested interest as a major shareholder. He has announced that there will be a management shake-up of some of the company’s under performing funds. There has already been one change; James Ridgewell was demoted earlier last week from the management of the UK Special Situations Fund, which will be merged with the UK Alpha Fund. James Ridgewell will now assist with the management of the UK Alpha Fund.

There are six New Star funds in the Wealth 150, a list of our favourite funds in each sector; European Growth, Global Financials, Heart of Africa, High Yield Bond, Pacific Growth, and Sterling Bond. There are no plans to remove any of these funds at this time. We will be keeping a close eye on these and the other New Star funds, and monitoring developments at the company. We will of course keep investors updated with any change of opinion. For the time being we suggest investors sit tight and make no snap decisions regarding New Star funds.

Key Features for the above funds can be viewed by clicking on the fund names below;

European Growth. Global Financials. Heart of Africa. High Yield Bond. Pacific Growth. Sterling Bond. UK Alpha. UK Special Situations.

Recent expert comments

Market update

By Richard Hunter | 20 Nov, 2008
Perhaps the only surprise that global markets have taken another downward lurch overnight should be that it is a surprise. The latest sell-off follows comments from the US Federal Reserve that economic growth is likely to be flat this year and...

The inflation ogre

By Nigel Callaghan | 19 Nov, 2008
A number of newspapers have recently suggested that inflation could drop to only 1 or 2% in the coming months. Now that immediate inflationary fears are rapidly becoming yesterday’s news, is there less of a need to buy a retirement...

Tough times at New Star

By Stuart Goodwin | 18 Nov, 2008
Security of capital has perhaps been the major concern of investors this year, even more so than falling stock markets. The perception that some UK banks were near failure earlier this year caused shockwaves. Now even a whisper that a...

Bank deposit safe again?

By Stephen Lansdown | 17 Nov, 2008
Although I have always understood the risks involved with banks I never for one moment thought that we would be faced with the possibility of major banks going to the wall. This period will go down in history and will...

A week in advance 17th - 21st November 2008

By Keith Bowman | 14 Nov, 2008
This coming week sees the UK major corporate and economic calendars remaining busy. In the US, a steady flow of economic announcements is scheduled, whilst the third quarter corporate results season begins to reach its end. Economics In the UK, inflation...

Invest now

Open a new account:

Invest in an existing account:

My accounts

Market latest

FTSE 100	3,874.99	-130.69
FTSE 250	5,578.68	-127.90
FTSE All Share	1,934.84	-63.18
Dow Jones	7,552.29	-444.99
NASDAQ	1,316.12	-70.30
Nikkei	7,532.11	-170.93

Prices delayed by at least 15 minutes