New Star has passed its house investment trust to fund of funds head Mark Harris to try and boost pe...
New Star has passed its house investment trust to fund of funds head Mark Harris to try and boost performance. The global growth-oriented £95m New Star Investment Trust reports a 10% loss over three years compared to a sector average 23.8% gain, ranking it bottom out of 34 funds. The trust serves mainly to manage money for group founder John Duffield, who owns 60%, and other key New Star staff. It launched in April 2000 and was originally managed by Alan Miller, but performance was poor. Nick Brind took over the trust, which invests primarily in New Star funds, when it was decided M...
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