New Star Asset Management Share Discussion Threads

[gooner6] 18/1/2008 10:12

Now bought........drop seems over done to me.

[tsmith2] 18/1/2008 09:17

not holding but watching

it seems that there are small sellers but larger trade buyers at the mo - sure sign bet that institutions are averaging down whilst joe is panicking and selling at any price.

[gooner6] 18/1/2008 08:42

Don't hold but have been monitoring for a few weeks, drop seems overdone to me, but in the current market bad news hit hard.

next couple of weeks good be a very good time to buy and hold longterm.

[powwow] 18/1/2008 08:37

what a disaster. This is worse than the dot com bubble. i think property funds are doomed, banks are doomed, and the uk housing market is doomed as its not immune.

[pbracken] 18/1/2008 07:55

Dire trading update. Talk about a fall from grace - and I've never known a company so blatantly run for the benefit of its employees rather than its shareholders. Sub 100p easy. Wouldn't touch it even then.

[undertaker] 15/1/2008 18:00

they are all a bunch of over paid toffs in that company....allegedly!

[imprima2] 15/1/2008 15:41

sub 90p for this overripe tomato

[liquidkid] 10/12/2007 16:34

Bit by Dog!

New Star Property Unit trust slashed (See post 81 for chart)

"In recent days sentiment has deteriorated sharply, partly as a result of the
publicity given to redemptions from open-ended commercial property funds. This
has stimulated further redemptions and heightened concerns about the liquidity
of these funds."
"Accordingly, the value of the Fund's property portfolio has today
been reduced by 8.2% by the Fund's valuer, CB Richard Ellis. This follows a
capital fall of 9.6% in the previous 4 months, making a total capital fall of
17.8% since the end of July."

[konkel] 19/11/2007 09:55

What the hell does that mean?

[liquidkid] 16/11/2007 09:50

timesonline - "New Star Asset Management fell another 20¾p to 269p on fears over property values. There is talk that remuneration costs will soar once managers sell shares."

[gopher] 09/11/2007 22:01

As this thread indiactes retail investors investing at the top of market in property and for income are now sitting on losses far more severe than the FTSE 100 correction would have you believe.

Horrible share price performance but fund performance is relative as far as fund managers go and New Star have had a good reputation in recent years.

Does anybody have a view when compelling value will emerge in what should be a growth stock.

[ben gunn] 08/11/2007 16:30

Happily my friend mr S Toploss showed me the error of my ways.

[liquidkid] 02/11/2007 08:31

The Alpha/Alpha strategy funds appear to be holding up ok (not including todays event). But here's the property fund...


And look at this one - The New Star Fixed Interest Unit Trust a £1bn fund investing in the usual sub-investment grade stuff...

[matthewa] 01/11/2007 15:05

Year Low hit.

[matthewa] 30/10/2007 14:58

LiquidKid - Great analysis

[liquidkid] 30/10/2007 14:25

Leaks springing out all over the place...

Half of its AUM are in UK mutual funds Approximately 43% of New Star's mutual fund assets under management are invested in property or fixed income.
By far its biggest fund is the Property Unit Trust - invests primarily in commercial property (bloomberg: PTFPRAI LN) Fund size: £2,074.81m
The fund ended September with 17.3% of its assets in property equities and 8.6% in cash
it performance - "The two largest (commercial property) funds, the £4 billion Norwich Property Trust and £2.1 billion New Star Property, have fallen 8.2% and 7.9% respectively this year." Times 28/10

- If there is a sustainable bounce in leading prop shares then this could recover.
- If evidence appears of stabilisation in the commercial property market could save the fund.

[thedinnerlady] 09/10/2007 11:16

watch out for double bottom at 350 then a move up on volume.....

[amla] 08/10/2007 18:36

Down to next resistance as ex divi kicks in?

[ben gunn] 06/10/2007 12:40

Meanwhile....back at the NSAM share chart:
Higher high and higher low on a weekly basis.....could we have a turning point?

[liquidkid] 03/10/2007 13:09

Why the drop?
Good news is they've set up a new $400mn long/short hedge property fund and $50mn is already in the bag.

The bad news is that over the last month some of the bottom poor performers are two of New Star's leading managers. Jamie Allsopp's New Star Hidden Value (New Star Hidden Value B) fund posted a loss of 5.82%, while Patrick Evershed's New Star Select Opportunities (New Star Select Opportunities) fund lost 5.22%.

More bad news AUM fell 2% fractionally over the summer to £24.4 billion at Sept. 26, after rising 17% in the half to June 30.

And the worst news is that Duffield's comments were not taken very well. As soon as you start talking "challenging" (market conditions) it tends to get interpreted as "crippling"

[ben gunn] 02/10/2007 12:01

Time to buy...Zebedee................................(No advice Intended)

[mike24] 01/10/2007 10:48

sold out of commercial, (two starter units) 12months ago,fortunate because
it was a compulsory purchase, manage a small retail unit for investors
have dropped the rent 20% to help them through a sticky patch,
did supply advertising for a bigger developer,who built big W now wooly's
who split unit with m&s, as rent was 3k a day pre-split, how does a business survive with rates/wages on top of that, focus two doors away is closing down, staff say rent is to high, the point is, by dropping rent to keep tenant also
affects overall value of investment, so while large developers could
probably help tenants, they want to keep rents up, but how much longer
can retail/commercial users stand these ever increasing costs, which
has grown on the back of house price inflation,the future at best
seems a few yrs of stagnation, level prices actually = falls as real "I"
is 5% plus x yr, the irony is focus closing down sale has increased
turnover 300%, but that then comes at the expence of other stores
these perpetual sales,megadays, produce casualties,
this is not a deramp just questioning why people are buying into uk
commercial, starter units have produced the highest rent per sq ft,
the p&o pension fund were the most successful at exploiting this area
with the ability to buy in bulk,against the sole trader who has the advantage of
selling a small portfolio in different tax yrs and has the advantage of calling a top
and buying back in at a discount, when that opp comes round again seems a long way off, one of the big advantages with comm, is you can run the investment
yourself, the problem with btls, is you pay fees for competent agents to vet tenants
10% as norm,and management fees are killing returns on leasehold props,
but opps should return as rates fall, the days of high yields are gone, but
the value of leveraged borrowing after tax, could depreciate from 5/10% yr
=hedges inflation, would like to bet barc could buy back freeholds it sold in 07
for the same price in 5/7yrs time,which is why they auctioned props to take
advantage of 20 times rent,
pdyor,scuse spello's
edit 25/11
times comm prop facing its worst yr since it crashed in the early 1990's
plummeting returns down from 18% last yr that has wiped est 14bl of the 350bl
investment market between JULY and OCT likely values will drop further
wkp should prove exception, a move from b'ham to london to catch main rises
and are sitting on props bought at the right price charging a fraction of central
city rental prices