New Star's Webster tilts portfolio away from Asia towards Europe

New Star's Stuart Webster is positioning his international property fund for re-entering European ma...

New Star's Stuart Webster is positioning his international property fund for re-entering European markets amid global volatility. A year ago, his fund was positioned to reflect the expectation Asia would outperform Europe, and while this was the case then, he is now tilting it to re-enter carefully selected European markets, as valuations weaken. Webster said the asset class has proven resilient in the volatile climate of the past year. However he conceded while property has not been battered by such significant price swings as equities or bonds, it has been unable to escape the malai...