New Star's bid for the unit trust business of the Exeter Investment Group was the first of several d...
New Star's bid for the unit trust business of the Exeter Investment Group was the first of several deals it was looking to complete in 2003. The planned purchase of the management contracts of 11 of Exeter's unit trusts and two Oeics, with assets in excess of £280m, was expected to cost New Star around £10m. Several key managers of Exeter's range were thought likely to move over to New Star, similar to the acquisition of six Aberdeen funds earlier that year.
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