New Star aims at institutions

Fund management group New Star Asset Management is preparing to launch a PR assault on the UK institutional market.

The company has handed Vanbrugh Financial a new brief to target City intermediaries such as Watson Wyatt and potential pension fund trustee clients.

New Star already manages £6.9bn for institutional clients. But although this money accounts for 45 per cent of the total volume of assets managed by the company, its UK institutional business is still relatively small.

New Star head of UK institutional clients Ian Lewis said the firm had spent the past three years building its reputation for institutional management with the intermediaries that advise UK pension funds and was now ready to go directly to the funds themselves.

Vanbrugh MD Sophie Hull's brief continues the agency's project for New Star's fund-of-funds product.

New Star is using Polhill Communications for its retail funds, the reputation of which took a knock this week (see Anthony Hilton), and Hudson Sandler for City PR. Details of its flotation were announced last month.

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