Henderson Global Investors has confirmed there will be no changes to multi-manager ranges once New Star’s funds of funds team joins the group.
Earlier today it was announced that Mark Harris and Craig Heron, multi-managers at New Star would be moving across to Henderson, along with the funds, as part of the acquisition deal.
Henderson has a multi-manager team headed up by Bill McQuaker, who is also head of equities.
A spokesperson told Fund Strategy it is in the best interests of investors to make no changes to the New Star funds, reassuring investors that assets will be run as normal.
He adds that the two ranges differ: New Star have more region-specific mandates and tend to be aggressive, while Henderson funds of funds take a cautious stance.
The news follows confirmations that Guy De Blonay, the manager of the New Star Global Financials fund, and Mark Skinner, the managing director, will also move to Henderson.
Skinner will take up a similar role as head of the British retail business at Henderson, overseeing marketing, sales and distribution teams.
The spokesperson says Henderson had no need for such a role in the past, but once the acquisition is completed, the group will be the fifth largest retail asset management company in Britain.
He adds he is confident that Henderson can recruit up to 90% of the New Star employees it wants to employ.
The deal will be finalised in the second week of April once approval has been received from the Financial Services Authority (FSA) and shareholders.