New Star to merge away North America and Japan funds

New Star is closing two single-country equity funds that have failed to remedy underperformance. T...

New Star is closing two single-country equity funds that have failed to remedy underperformance. The group’s £5.5m Japan fund, run by Amanda Gold, will merge into in Ian Beattie’s £105m Pacific Growth Unit Trust Meanwhile, Greg Kerr’s £7.7m North American fund will combine with Mark Harris’ American Portfolio. Gold and Kerr are to focus on their institutional responsibilities, according to the group. “The Japan and North American funds were acquired from Edinburgh Fund Managers in 2003,” said MD Mark Skinner. “By consolidating these small portfolios into more established funds with...