UK - New Star Asset Management has closed its second institutional/high net worth offering, the Capital Guaranteed European Hedge Fund, at $130m.
The fund - a mix of UK and European equities - is managed by New Star’s head of European equities, Richard Pearse, and the firm’s chief investment officer, Alan Miller.
New Star - which is primarily known for its retail activities - said it is holding discussions with consultants regarding its institutional merits.
New Star managing director Philip Goldsmith said: We are delighted at the success of this new fund and the support received from institutions and financial advisers throughout the world.
The fund is part of a range of funds that New Star International will be launching for international investors.
The fund’s closure brings the total amount raised by New Star for its international guaranteed hedge funds up to $310m. Under the capital guarantee, HSBC will ensure that at least $100 per share is repaid to New Star fund shareholders when it matures in December 2006.
By Geoffrey Ho
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.