Henderson New Star has received FSA and unitholder approval for the merger of a number of funds in the New Star UK equity range.
The decision to merge a number of the former New Star funds was initially proposed in May 2009, following Henderson's acquisition of the company. New Star's £12m Hidden Value and £32m Select Opportunities funds will both merge into the group's £155m Hidden Alpha fund, managed by Stephen Peak. Meanwhile, the £127m New Star Equity Income fund will be merged with the £149m Higher Income fund, managed by Graham Kitchen and Andrew Jones. Henderson New Star says it took the decision to merge the funds because they were being run by the same managers and had similar mandates. It also says...
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