New Star group, Mark Harris

New Star group looks to take advantage of Revenue changes and convert some of its existing vehicles to non-Ucits retail schemes

New Star's fund of funds team is hoping to convert some of its existing vehicles to non-Ucits retail schemes (Nurs) once the Revenue allows these to qualify for Pep and Isa investments. The wider range of assets allowed under Nurs would be advantageous especially for the group's Tactical portfolio, according to the team's head Mark Harris, who also noted he wouldn't mind having a performance fee added to this particular fund in the future. As a higher risk investor, Harris has all of his own personal money in the aggressive Tactical fund. New Star currently has just one fund of fund in a...