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.
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.