Investors in New Star funds that came under the management of Henderson Group last year will shortly receive letters advising them of new arrangements for their investments.

 

Some funds will see amendments to general administration charges as well as changes in the fund names, with the New Star brand being phased out completely.  The fund custodian will also be changed.

Simon Hillenbrand, director of UK retail for New Star Investment Funds, said that none of the changes require investor approval and Henderson is currently in the process of writing to all customers to inform them of the changes.

He added, ‘We have reached the stage where we are in a position to have one operating structure for both fund ranges.  This will involve a number of changes to fund administration arrangements.

‘We have explicitly explained in the letter to investors that the changes will occur behind the scenes and that no action is required on their part.  All the changes become effective on 6 April 2010.’

A new simplified prospectus is available for all funds now that will also become effective in April.

Investors looking to obtain more information can do so at the Henderson Group website.