New Star Launches Two New Funds in France

Ian Allison

9 August 2006

New Star International has launched its New Star Pan-European Equity Fund and New Star Euro High Yield Fund in France - both sub-funds of New Star's fund range based in Dublin. New Star said the registration has been prompted by the firm's expansion into Europe and the success of its French operation. Daniel White is the lead manager of the New Star Pan-European Equity Fund and responsible for asset allocation between the Continental European and UK portions of the fund. He works with Richard Pease to determine equity selection in Continental Europe. Equity selection in the UK is determined by Stephen Whittaker, New Star’s joint chief investment officer. The fund is eligible in France to the Plan d’Epargne en Actions, a tax efficient savings wrapper similar to an ISA in the UK. The New Star Euro High Yield Fund is a blended credit fund with a neutral mix of investment grade and sub-investment grade bonds. It is managed by James Gledhill, head of fixed income at New Star, and Nick Hayes, who specialises in euro investment grade credit and manages the investment grade portfolio of the fund. Philip Goldsmith, New Star managing director, said: "We will continue to develop our institutional relationships and distribution channels in France to provide investors with access to our top-performing fund range.”