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New Star Heart of Africa

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  • Murphy_The_Cat
    Murphy_The_Cat Posts: 20,967 Forumite
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    still doing OK !

    blackcat.gif
  • Liz_the_Whizz
    Liz_the_Whizz Posts: 623 Forumite
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    Yes, a "surging" 7% hike in value on paper since purchase.

    Stands out as one of the soothing blues in my H-L portfolio, amongst an angry rash of red;) :mad: .
    "Success is the ability to go from failure to failure without losing your enthusiasm" (Sir Winston Churchill)
  • Murphy_The_Cat
    Murphy_The_Cat Posts: 20,967 Forumite
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    Liz_the_Whizz wrote: »
    Yes, a "surging" 7% hike in value on paper since purchase.

    Stands out as one of the soothing blues in my H-L portfolio, amongst an angry rash of red;) :mad: .

    I'm unable to use the word surge without blushing :rotfl:

    can i go further and suggest that not only is it soothing, but maybe a VERY pleasant surprise that the colour is as blue as it is :D

    blackcat.gif
  • Murphy_The_Cat
    Murphy_The_Cat Posts: 20,967 Forumite
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    Worthy of a mention, the Lion has just cracked 10% growth

    blackcat.gif
  • Murphy_The_Cat
    Murphy_The_Cat Posts: 20,967 Forumite
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    H-L have just posted what they currently think about the Heart of Africa fund

    blackcat.gif
  • MisterNick
    MisterNick Posts: 1,246 Forumite
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    Bloombergs have just reported that New Star Asset Management is freezing its Heart of Africa Fund to meet redemptions.
  • Debt_Free_Chick
    Debt_Free_Chick Posts: 13,276 Forumite
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    MisterNick wrote: »
    Bloombergs have just reported that New Star Asset Management is freezing its Heart of Africa Fund to meet redemptions.

    Interesting ...... I wonder if that's panic selling by novice investors who fear they'll lose all their money or who don't understand "long-term investment"?

    Or is the 0% interest-free period up on their credit card? ;)
    Warning ..... I'm a peri-menopausal axe-wielding maniac ;)
  • Debt_Free_Chick
    Debt_Free_Chick Posts: 13,276 Forumite
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    New Star's Announcement here
    Warning ..... I'm a peri-menopausal axe-wielding maniac ;)
  • Lokolo
    Lokolo Posts: 20,861 Forumite
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    Yeh I think its because of the mass selling. I haven't sold my investments because I am going to wait and see whats going to happen (a lot of the media are suggesting that the current fund managers are likely to stay anyway so..). However dunstonh said he has sold a lot of his investors NS funds 'just in case'.. so I imagine thats whats happening.

    Hm, nevermind looks like I am at the wrong end of the stick ;)
  • dunstonh
    dunstonh Posts: 116,716 Forumite
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    However dunstonh said he has sold a lot of his investors NS funds 'just in case'.. so I imagine thats whats happening.

    I switched out some of the funds but not others. Ironically, this was one of the funds I didnt switch out and to be honest, I dont see any reason to do so even now (if you could or when the 28 day period is over).

    I focused on the funds that are likely to merge but I did also mention I was keeping it under review. I was more surprised at how little there was in NS funds overall. When I did a reverse portfolio there wasnt as many people invested in new star funds on my books as I thought there would be and where they were, the amounts were small. Often because they were picked as niche/specialist funds, just like this one.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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