New Star’s assets increase by 6bn

New Star Asset Management increased its assets under management from 10.7bn to 16.8bn in 2005, according to its preliminary annual results published on Friday. Retail assets under management grew by 34%, driven in part by a doubling in assets for the Dublin fund range, and the firm was third in the market for UK net retail sales during the year. New Star, which listed on the Alternative Investment Market last year, made a pre-tax profit of 19.6m after a 7.2m loss in 2004.