New Star is responding to demand from European investors for high alpha funds by launching the New Star Pan-European Equity Fund, a sub-fund...

New Star is responding to demand from European investors for high alpha funds by launching the New Star Pan-European Equity Fund, a sub-fund of New Star Global Investment Funds Plc, which are based in Dublin. The fund launch period will be 28 November 2005 to 9 December 2005. The fund will aim to generate alpha through active stock selection, with a strong long-term absolute returns capital growth policy through a single diversified portfolio of UK and Continental European equities and equity-related securities. The fund will be managed by Richard Pease, Stephen Whittaker and Daniel White. Mr White will determine the weighting between Continental Europe and the UK and will act jointly with Mr Pease in individual stock selection within Europe excluding the UK. Mr Whittaker will be responsible for UK equity selection. The split will be 65 per cent Continental Europe and 35 per cent UK and the fund will typically hold between 70 to 100 stocks. The fund will be denominated in Euros and will invest primarily in mid and large caps companies. Its benchmark will be the FTSE World Europe and the minimum investment will be €5,000 ($5,880) for retail customers and €10 million for institutions. Charges for retail customers will be 1.75 per cent with an initial 5.25 per cent fee.