New Star swaps Thompson for Green on underperforming fund

New Star is giving recent hire Trevor Green the equity portion of its £448m Managed Distribution fund...

New Star is giving recent hire Trevor Green the equity portion of its £448m Managed Distribution fund. Managed Distribution is bottom of the IMA Cautious Managed pack in terms of one-year performance, offering -15% as at 9 June, according to Morningstar. Toby Thompson had been running the fund’s equity portion but will now focus entirely on his underperforming Higher Income fund, which is 86th out of 88 peers over the one-year period with -26.5%. “This additional resource will allow us to give a greater focus to the Managed Distribution and Higher Income funds,” said a spokesperson. ...