New Star raises £180m in assets

New Star's capital guaranteed hedge fund has raised more than US$180 million in assets. The fund was distributed by New Star and HSBC Investment Bank who has increased its guarantee from US$150m to US$180m.

The fund will invest primarily in UK equities and will be advised by Alan Miller, New Star's chief investment officer, and Tim Steer, a UK equity analyst. The fund will follow a similar investment policy to the non-guaranteed New Star UK long/short hedge fund.

The capital guarantee will re