John Duffield, founder and Chairman of New Star:
"It is now five years since New Star opened its doors to investors. From the start, our overwhelming priority has always been to produce the best possible returns for investors. We believe this is best achieved through active fund management and by giving our star managers the freedom to perform. I am glad to say that New Star has been able to attract some of the brightest fund management talent, who in turn have delivered excellent results across a wide range of funds."
"We hit the ground running in July 2001 with one of the most successful retail fund launches of all time and we have remained one of Britain's fastest growing fund management companies. Our range of 37 retail funds offers access to three major asset classes - equities, bonds and commercial property - plus the increasingly popular fund of funds sector. In total we now manage more than £8 billion in retail funds."
"We are passionate about fund management and are fully aware that our continued success depends on the support of our investors, which in turn depends on us delivering superior performance, excellent service and funds that meet the needs of our clients."
A brief history of New Star
2001
New Star launches its first two flagship funds, the European Growth and UK Growth funds, raising £250 million from more than 25,000 investors in three weeks, believed to be a record for a retail fund launch in the UK. Analyst Tim Steer joins the team to launch the company's third retail fund, the New Star UK Alpha Fund.
2002
The focus this year is on building New Star?s UK equity and fixed income teams and some of the industry's brightest stars are attracted to the company. Toby Thompson, formerly of Newton, launches the New Star Higher Income Fund. Patrick Evershed joins New Star from Rathbones to launch the New Star Select Opportunities Fund. Stephen Whittaker leaves Invesco Perpetual to take over the management of the New Star UK Growth Fund. Bond experts Theodora Zemek and James Gledhill join New Star to develop the company's fixed income capability.
2003
New Star confirms its position as the UK's fastest growing retail fund manager, reaching £1 billion in gross retail sales in just 18 months. The company had always intended to grow both organically and through acquisitions and this year New Star buy the rights to manage funds from Aberdeen Asset Management, Edinburgh Fund Managers and Exeter Investment Group. Mark Harris and his highly-rated team join from Edinburgh to mark New Star's entry into the fast growing fund of funds market.
2004
New Star's commercial property credentials are strengthened when Roger Dossett joins the company to manage the direct property portfolio of the New Star Property Unit Trust. New Star also wins the "First Tier" category of the Citywire Team All Stars Awards for the first time.
2005
Retail funds under management cross the £7 billion mark. In response to demand from advisers, New Star launches the Cautious Portfolio as an addition to its award-winning fund of funds range. New Star wins the "First Tier" category of the Citywire Team All Stars Awards for the second year running.
2006
Citywire's analysis of the UK's top 100 fund managers includes nine from New Star - more than any other UK fund management group. The Property Unit Trust exceeds £1 billion under management and New Star launches a pioneering multi-asset class fund, the New Star Tri-Star Unit Trust. New Star has more than £18 billion of group funds under management (at 30 April 2006).
Awards
For two years in a row, New Star has been judged the overall winner of Citywire's Team All Stars Awards in the first tier category. This category is reserved for asset management groups with eight or more qualifying managers and is a unique achievement.
Independent analysis by Citywire has revealed that New Star's fund managers have achieved the highest possible Citywire AAA monthly rating more often than any other fund management group¹. Less than 5% of fund managers typically hold a AAA rating at any one time.
Nine of New Star's managers were ranked among the top 100 fund managers in Citywire's 2006 list and this is a record no other company can match. New Star currently has 11 managers ranked by Citywire - no other fund group has more (at 30.06.06).
Extensive product range
New Star offers investors one of the widest and most diverse ranges of actively managed unit trusts and OEICs in the UK, covering the major asset classes of equities, bonds and commercial property.
New Star offers 37 retail funds including UK equity growth funds, UK equity income funds, bond funds, funds of funds, regional equity funds, global equity funds, funds of investment trusts and specialist funds including global financials and commercial property.
¹Each month Citywire rates individual fund managers for their risk-adjusted performance over the previous 36-month period. From 31 August 2002, when the Citywire Fund Manager ratings were first calculated, until 30 June 2006 the current line up of individual fund managers running retail funds at New Star (at 30 June 2006) achieved more individual AAA fund manager ratings per month in aggregate than any other fund management group over the period under review.
New Star Notes to Editors
Past performance is not necessarily a guide to future performance.
The value of investments and any income from them may fall as well as rise and investors may not get back the amount originally invested.