New Star's A-rated Hitesh Thakrar (pictured) has left the group and is understood to be joining a Abu Dhabi sovereign wealth fund.
His departure sees the management of the New Star Global Equity fund passed to Nick Sheridan, who also manages the New Star European Value Fund.
Thakrar had built a good reputation at New Star and held a Citywire A rating. He is understood to be joining an Abu Dhabi sovereign wealth fund based in London. According to Lipper, he performed in line with his peers over one year to the end of December returning -26.06% on the New Star Global Equity fund, versus a peer group average loss of 26.03%.
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