UK - New Star Asset Management is opening its long/short New Star Japan Hedge Fund to new pension fund investors.
The fund consists of 80 stock positions and has about US$19m of seed money. Since its launch on July 31, the fund has returned 5.4%, compared to a 10% fall in the MSCI Japan Index and a 3.5% drop in the CSFB/Tremont long/short index.
Meanwhile, New Star Investment is launching its first bond fund later this month.
The New Star High Yield Bond Fund, which will be managed by James Gledhill, will have gross estimated income and redemption yields of 7% and 6.8% a year respectively.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers