New Star Fixed Interest & Managed Distribution Funds - Downgraded
By ROBERT HARLEY 18/12/2007
New Star have announced that Theo Zemek, Head of Fixed Income, is leaving to take up a new appointment in Paris. Zemek was named manager for the New Star Fixed Interest & Managed Distribution Funds. The new manager for Fixed Interest is James Gledhill, who currently manages the High Yield and Extra High Yield bond funds and who also has also become the new Head of Fixed Income. Gregor Logan, currently joint CIO, has been named manager of the Managed Distribution Fund.
Recommendation
Whilst our rating for the Fixed Income Fund remains at 2 stars, we have downgraded our rating on the Managed Distribution Fund from 3 stars to 2 on account of the poor performance of the underlying equity portion managed by Toby Thompson.
Market latest
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Index
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Points
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+/-
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–
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Values delayed by at least 15 minutes.
Source: Financial Express