New Star has suspended trading on its £674m International Property fund. The move follows several l...
New Star has suspended trading on its £674m International Property fund. The move follows several large withdrawals by key institutional investors. The group is halting redemptions for 28 days but is currently in discussions with the FSA over indefinite suspension. Manager Stewart Webster said: "A few big investors have redeemed in the last month so we had to shut the doors to protect existing investors. We cannot say for how long trading will be suspended but we would like to return to normal as soon as possible. "The fund had £75m or 16% in cash at the end of October but has seen phen...
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