Mark Skinner, Managing Director, New Star International:
"It is now five years since New Star opened its doors to investors and we are delighted to have achieved success both in the UK and internationally. From the outset, our overriding objective has been to provide investors with the best possible returns. We believe this is best achieved through active fund management and by giving our star managers the freedom to perform. The appetite for absolute rather than relative returns continues to strengthen across Europe and meeting this demand is at the core of New Star?s investment process."
"The initial focus for New Star at launch was offering mutual funds to UK investors and attracting some of the most talented fund managers. With strong foundations in place, we broadened our outlook to Europe, Asia and North America and significantly strengthened our international capabilities. New funds were launched for the increasingly international client base and offices were opened in Zurich and Madrid in addition to those in London, Dublin, Hong Kong and Bermuda. Funds from the Dublin-based OEIC continue to be registered in a growing number of jurisdictions."
"Looking ahead, we are fully committed to building on our success - both at the fund management level and within sales and marketing. We work very closely with our strategic distribution partners worldwide and these relationships continue to go from strength to strength. At New Star we are delighted with our first five years and the passion and enthusiasm remains to build further on our international success."
A brief history of New Star
2001
New Star launches its first two flagship funds in the UK, the European Growth and UK Growth funds. These raise £250 million from more than 25,000 investors in three weeks, believed to be a record for a retail fund launch in the UK. The European Growth fund is managed by Richard Pease, who is widely regarded as one of the most talented European (ex-UK) equity fund managers.
2002
The focus this year is on building on our success in the UK and offering New Star funds to the international marketplace with the launch of a Dublin-based OEIC, New Star Global Investment Funds PLC. Bond experts Theodora Zemek and James Gledhill join, having built a formidable reputation at M&G. Stephen Whittaker joins from Invesco Perpetual, having established himself as one of the best UK equity fund managers of the previous decade.
2003
New Star has always intended to grow both organically and through acquisitions and this year we buy the rights to manage funds from Aberdeen Asset Management, Edinburgh Fund Managers and Exeter Investment Group. 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 New Star Strategic Government Bond Fund, managed by Theodora Zemek and Simon Ward, is added to the Dublin-based OEIC. Our international fund range is authorised for sale in Hong Kong and Malta.
2004
New Star's success continues in the UK and international growth builds momentum. Daniel White joins from CIC Securities to work alongside Richard Pease on the highly regarded New Star European desk. 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 exceed the £7 billion mark and the international business is expanded. Two high-profile funds are launched - the New Star Euro High Yield Fund, managed by James Gledhill and Nick Hayes, and the New Star Pan-European Equity Fund, which offers high alpha returns under the management of Daniel White, Richard Pease and Stephen Whittaker. The Dublin-based OEIC is registered for sale in Switzerland and an office is opened in Zurich. Activity is stepped up in France. The European sales team is strengthened and New Star wins the "First Tier" category of the Citywire Team All Stars Awards for the second year running.
2006
New Star now has approx. £18 billion of group funds under management*. Internationally we register funds in Spain and the Netherlands, open an office in Madrid and the Dublin-based OEIC's funds under management top £1 billion. Relationships continue to be strengthened with international life companies and fund supermarkets, which combined account for 50% of annual sales. Citywire's analysis of the UK's top 100 fund managers includes nine from New Star - more than any other UK fund management group.
Performance~
Source: Lipper, bid-to-bid (unit trusts), mid-mid (OEICs), net income reinvested, at 30.06.2006
~ Please note that the performance statistics include the New Star UK domiciled range which may currently not be authorised for distribution in your jurisdiction.
Awards
Past performance is not necessarily a guide to future performance.
Extensive product range
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. *At 23 May 2006. #Funds only registered in certain jurisdictions.
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For further information, please contact Trina Arthur at New Star International on +44 (0)20 7225 9574.
