New Star Asset Management Share Discussion Threads

[knowing] 16/12/2008 11:57

You didn't need one of these did you?

[wardy3] 16/12/2008 11:33

If you had bought in at over £5.00p you have lost over 99% of your wealth, could be worth a punt here at this price.

[sprattyken] 16/12/2008 08:27

wcr
what a daft thing to say.

[westcoastrich] 16/12/2008 07:53

investors reel from madoff shock....cant see why, nsam investors have lost 97% here and theire aint been fraud

[wardy3] 15/12/2008 14:52

Bit of dead cat bounce here I think sucked a few in and then dropped off, could go anywhere this 1p or 9p take your chance Red or Black thats the gamble.

[knowing] 15/12/2008 14:51

May just have been an auction.

[harmoye] 15/12/2008 13:09

There was a temporary suspension with my dealer due to high volume...so they say.

[fairdeal2008] 15/12/2008 12:41

what hints and nudges jamie :-)

[careful] 15/12/2008 12:11

we can all compfort ourselves that Duffield is still very wealthy even if he is a lousy investor.

[hyperion16] 15/12/2008 11:59

I agree Jamie. Doesn't a suspension mean an rns needs to be sent out?

[knowing] 15/12/2008 11:43

Still able to trade here.

[jamie62] 15/12/2008 11:20

I am surprised that it was even trading today after friday's hints and nudges..however, I am still getting quotes for my holding...

[harmoye] 15/12/2008 11:13

Dealing Suspended so must have a buyer. We will find out the outcome very soon..good luck everyone.

[harmoye] 15/12/2008 10:24

Blue Planet buying nearly 3 million pounds worth must be classed as a tad exciting Mercier...

[mercier et camier] 15/12/2008 10:13

more exciting news! Has there been any so far??

[harmoye] 15/12/2008 10:08

80k buy was good Denmark. Any surge now and you won't get any because of the shortage of shares available.

I'm hanging on to my 50,000 because expecting more exciting news to come.

[demark] 15/12/2008 09:32

looks good.

dyor


DEMARK - 12 Dec'08 - 13:40 - 331 of 351 edit
i picked up 80k plus. hope it pays off by x'mas.

dyor

[harmoye] 15/12/2008 09:07

Only allowing buys of 8000 shares not many shares available.

[harmoye] 15/12/2008 08:14

Terropol,it's the ordinary shareeholders who have to vote on any deal.Moreover Blue Planets investment of 2.8 million pound the other day has to be a good sign as we must assume they know what their doing.

[terropol] 14/12/2008 22:08

I can not see Banks giving anything away to ordinary share holders...Why should they?

[harmoye] 14/12/2008 12:58

Just read Times article a few days old. They say the banks (Lloyd Hbos etc) have instigated the sale of New Star via UBS and would be willing to accept 120 million pounds for sale of New Star.

If the current offer is 200 million pounds that would leave 80 million pounds left. With market captilisation of just around 7 million quid woulden't that be very advantageous to shareholders ?

[mercier et camier] 13/12/2008 23:01

New Star break-up to begin with management buyoutBy Jeff Prestridge
Last updated at 10:01 PM on 13th December 2008

The break-up of New Star Asset Management is set to begin this week with a management buyout of the beleaguered fund manager's institutional business.

Sources close to the company run by John Duffield say the buyout is being led by Mark Beale and Richard Lewis, head and deputy head of New Star's institutional fund management arm.

They were part of the team that joined New Star in 2000 from global investment manager WorldInvest. It was the acquisition of WorldInvest, subsequently renamed New Star Institutional Managers, and its £1.1billion of funds that provided the launching pad for Duffield's New Star.

Beale and Lewis will head a team of 16 and take more than £3.2billion of assets with them. This is considerably less than the £6billion of institutional funds they had under their control at the end of September, when New Star issued its interim management statement.

The subsequent disastrous slide in New Star's share price, culminating in Duffield ceding control of 75 per cent of New Star to five banks in exchange for cancelling £240million of bank debt, has resulted in a strong outflow of funds.

Last week, investment bank UBS was brought in to break up the fund management business. Rivals including Aberdeen, Gartmore, Henderson, Neptune and Schroders are eyeing up the retail funds business.

On Friday, Duffield refused to confirm details about the buyout. He is likely to depart as soon the break-up of New Star is complete.

[sprattyken] 13/12/2008 14:57

This needs to happen quickly before redemptions get out of hand.
The most important issue is to improve relative performance and start attracting funds rather than watching them walk.

[harmoye] 13/12/2008 13:59

Terropol, a takeover would include New Star existing debt and still give 8p a share.

If no takeover then New Star will sell 3/4 of share equity to the banks for 240 million,delist and still be left with $30 million in cash.

They will then get their house in order and relist on the stock exchange in 6 to 12 month at a suggested share price of 50p or more.

I do believe a bidding battle may ensue for New Star which would make us all smile...