New Star reports 'buoyant' trading in '07

The group reports that assets grew to £24.7bn by the end of June 2007, a 17% increase on the £21.2bn worth of assets under management recorded at the end of 2006, but slightly lower than figures for May. Net asset inflows in the first half of 2007 hit £2.3bn, compared with £851m during the same period last year, indicating that rumours of a slowing economy have not deterred investors. Mututal funds have received considerable interest during the past six months. At the end of 2006, New Star’s international mutual funds were managing around £1.1bn, but by the end of June 2007 this had rise...