Harris and Heron buy into new GLG Select

Henderson New Star multi-managers Mark Harris and Craig Heron have made an initial investment of over £20m in the £101m GLG UK Select fund.

The managers will hold it as a core investment in the New Star Active, Balanced and Managed portfolios. Harris says GLG managers John White and Jason MacKay have a strong track record managing both their UK hedge fund and their offshore long only fund. "They are part of a very small handful of managers who can really deliver returns in the large cap market," Harris says. "We believe this fund will be a rewarding investment and therefore wanted to be first in to benefit from the expected returns." White and MacKay take an active approach to the fund, which was launched last month, c...