UK's New Star Enters Hong Kong Fund Distribution Deal

Tom Burroughes

14 March 2008

New Star, the UK fund management company, has signed a deal with Fundsupermart.com, the online financial services platform, to distribute its suite of investment funds to investors in Hong Kong. The London-listed manager says fund platforms such as Fundsupermart.com are an effective way to reach investors and is the first time New Star has teamed up with the company. Meanwhile, it will also continue to use its existing channels such as private banks and independent financial advisors. At present, banks dominate the distribution of funds in Asia, although other financial intermediaries, such as IFAs, are starting to break their market grip. Companies such as New Star are looking to fast-growing regions such as Asia to broaden their customer base. New Star, founded in 2000, has been recently hit by client pullouts from some of its funds due to market turmoil in sectors such as commercial property.