New Star Investment Funds says its retail funds under management now exceed £5 billion. New Star is ranked the 16th biggest – and is the largest independent – retail fund manager in the UK.
New Star says it believes much of its organic growth can be attributed to the “careful consideration of the needs of the intermediary market and their clients. New Star has consulted closely with intermediaries and strived to deliver products most suitable to market conditions and the needs of today’s retail investor.”
Total funds under management for the Group stand at £9.6 billion. “To reach £5 billion in retail funds under management in just over 3 years is a significant milestone for New Star and this confirms our position as one of the fastest growing retail fund managers in the UK,” says Mark Skinner, Managing Director of New Star Investment Funds. “We have been delighted with the support we have received from intermediaries and their clients since launch, which is a tremendous endorsement of our offering and investment philosophy. Our primary focus is on delivering superior investment performance. In addition, we strive to offer intermediaries and their clients the highest possible levels of service”
Since launch, New Star has grown both organically and through the acquisition of the rights to manage funds from Aberdeen Asset Management, Exeter Fund Managers and Edinburgh Fund Managers.
However, New Star reckons its organic growth, during a period of poor investor sentiment and market volatility, is most striking. Since launch, New Star has attracted gross retail sales of over £2.6 billion and net retail sales in excess of £1.6 billion. Between January and October 2004, New Star has attracted gross retail sales in excess of £1 billion.