New Star UK Alpha Fund upgraded to S&P ‘AA’ rating

The latest review of the New Star UK Alpha Fund by Standard & Poor’s has resulted in a rating upgrade to ‘AA’ for the fund. The S&P review and consequent adjustment recognised the consistent performance of the New Star UK Alpha Fund.

Standard & Poor’s said: “The UK Alpha Fund, run by Tim Steer since launch, is a focused portfolio of high conviction ideas, with a bias to good value, quality growth stocks...We are increasingly impressed with Steer’s market flair and stock selection skills, which led to the avoidance of fashionable but ultimately problematic areas – such as online gambling in 2006 and to a timely reduction in the portfolio’s exposure to financials in 2007.”

Rob Page, marketing director, New Star, says: “The track record of the New Star UK Alpha Fund has been excellent. Tim’s rigorous analysis of company balance sheets and attention to detail has generated strong outperformance for his investors.”