New Star closes hedge fund

New Star Asset Management has closed its hedge fund to new business now that it has reached £250m, writes Robert Stock.

The New Star Hedge Fund, managed by Alan Miller and assisted by Tim Steer, has now reached optimum size, according to New Star chief executive Howard Covington.

Originally called the Jupiter Hedge Fund when launched in 1997, it moved with Miller when he came to New Star. At that time it was around £100m in size.

The closure to new business comes as the launch periods for the New