Family Investments has removed New Star from the management of its £1.5bn Family Investment Portfolio...
Family Investments has removed New Star from the management of its £1.5bn Family Investment Portfolio. The group has appointed Santander Asset Management on the mandate making this the first time they have been awarded an institutional asset management portfolio. Santander will take over the portfolio, which includes the Family Child Trust fund and the Family staff pensions scheme, in Q4 2008. New Star has been in the spotlight recently after reporting peer group underperformance on many of its funds. It said the loss of the Family mandate is not expected to hit operating profits. ...
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