Harris: mistimed India and China re-entry hit 2008 returns

New Star multi-manager head acknowledges he went back into risk markets around a week too early, costing 2% of performance on Tactical portfolio

New Star's multi-manager head Mark Harris has apologised after mistimed plays in China and India hit performance this year. Holdings in US housebuilders also damaged returns in May, although the sector bet has provided a profit overall. Harris' high-risk Tactical Portfolio is currently a bottom-quartile 156 out of 185 sector rivals after delivering -9.41% from the start of the year to 24 June, according to Morningstar. Despite this, the high-octane fund remains top-decile in terms of three-year numbers, having delivered 55.8%. "This year has been extremely testing," said Harris. "...