End of Tri-Star shows changing cautious landscape

Two years ago, a fund blending the equity skills of Stephen Whittaker with the bond expertise of Jam...

Two years ago, a fund blending the equity skills of Stephen Whittaker with the bond expertise of James Gledhill and one of the best property teams in the industry seemed a dream ticket. But the closure of New Star's Tri-Star offering this month shows just how far the landscape for so-called cautious portfolios has changed. The fund launched offering a three-way split between equities, bonds and property, which the group marketed as a diversified vehicle. But this rigid structure has subsequently stopped manager Gregor Logan making aggressive asset allocation calls and kept him in prop...