New Star is to merge its ailing UK Special Situations fund with Tim Steer's UK Alpha vehicle. Foun...
New Star is to merge its ailing UK Special Situations fund with Tim Steer’s UK Alpha vehicle. Founder John Duffield has spoken out to reassure investors concerned about poor performance, proposing to merge James Ridgewell’s Special Sits away next month. The group said that subject to FSA and investor approval, the funds will merge on 29 February. According to press reports, the group is also considering management changes on Stephen Whittaker’s UK Growth and Equity Income funds in the coming months. A spokesman said there are no firm plans on this front as yet.
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