New Star Int Property set for European shopping spree

Stewart Webster's low-risk global property fund outperforms peers over past year and plans to buy into areas with strong fundamentals, including Paris

New Star's Stewart Webster believes his global property fund remains low-risk and is planning to assail Europe over the next six months. The manager of the £681m International Property fund is currently holding 30% cash after holding back on European investment during the fund's first year. "In Europe we actively held back and we have been proved right. We are now planning to buy in strong areas like Paris," he said. He explained that Parisian property has fallen 20% in recent months and said prices look good given the strong fundamentals. The fund has dramatically outperformed UK p...