After Theodora Zemek has left her position as head of fixed income at New Star Asset Management to join Axa Investment Managers, James Gledhill, her long-standing deputy, has been appointed New Star's head of fixed income with immediate effect. The New Star Managed Distribution fund is to pass to joint chief investment officer Gregor Logan. The flagship New Star Fixed Income (New Star Fixed Income) fund will be managed jointly by Mr Gledhill and Nick Hayes. The Sterling Bond unit trust will continue to be managed by Phil Roantree. Mr Gledhill will, however, retain personal control of the High Yield Bond fund while Mark Saunders will become joint manager of the New Star High Yield Bond fund.