New Star Investment Funds has launched a discretionary global portfolio management service with a minimum entry level of just 25,000, backed by an investment protection facility.
The so-called Galaxy Portfolio Service – which New Star warns is more “discretionary-style” than discretionary – offers investors access to four of the top-performing funds the firm acquired from Edinburgh Fund Managers earlier this year, including the New Star Fund of Funds Portfolio (which is ranked first in the Balanced Managed Sector over five years).
The service offers automatic ISA transfers, monthly withdrawal and phased investment facilities, regular newsletters and an annual seminar hosted by the investment management team.
With the exception of the New Star Monthly Income Unit Trust, all the portfolios are funds of funds, which are comprised of leading funds worldwide. Investors can mix and match from the four underlying investment options to meet their individual investment needs.
The investment protection is a three-year term life assurance for investors aged between 20 and 70 years, designed to provide a safeguard against capital depreciation through stock market volatility in the event of the investors death. Subject to certain conditions, at initial investment the protection cover is set at 105% of the initial investment and is reviewed annually to lock in any increase in value of the investment thereafter. The cover lasts for three years following the initial investment and is arranged by New Star through a leading UK life underwriter.
The Galaxy Portfolio Service provides access to the fund selection and portfolio construction expertise of Mark Harris, Head of Investment Management, and his team at a time when market conditions are tough for investors,” says Rob Page, Marketing Director of New Star Investment Funds. “Recent testament to this expertise and the consistent outperformance of our fund of funds portfolios came at the inaugural MultiManager UK Retail Funds of Funds Awards last week, where New Star won three out of the seven categories for investment excellence. The Galaxy Portfolio Service offers many of the benefits of a privately managed portfolio but with a much lower minimum investment requirement and with the added advantage of valuable investment protection at no extra cost.