New Star Euro High Yield Fund

LAUNCHES EURO HIGH YIELD FUND 30th November 2005   New Star International is pleased to announce the launch of the New Star Euro High Yield Fund, a sub-fund of New Star Global Investment Funds PLC, a Dublin-based OEIC. The fund will be managed by James Gledhill, Head of Fixed Income (Credit) at New Star and currently rated “AAA” by Citywire (at 30.09.05). New Star is represented in Malta by Jesmond Mizzi Financial Services Limited. The New Star corporate bond team, headed up by Theo Zemek and James Gledhill, has one of the longest and most successful track records within the high yield sector in the UK and Europe. The New Star Euro High Yield Fund aims to achieve a high level of income with the potential for modest long-term capital appreciation. It is aimed at cautious investors wishing to protect capital and benefit from a high level of income. The portfolio gross redemption yield per annum is estimated at about 5.71% and the portfolio gross income yield per annum is estimated at about 6.57%. The New Star Euro High Yield Fund is a natural addition to the Dublin OEIC’s range of funds, which are aimed at investors seeking greater portfolio diversification. James Gledhill will take a top-down, thematic approach, with an initial emphasis on sector analysis followed by stock selection.  The fund will predominantly invest in fixed and variable rate euro-denominated bonds issued by companies, governments and supranational institutions worldwide. Fund details: Managed by James Gledhill and co-managed by Nick Hayes Asset split of approximately 45% investment grade bonds and 55% high yield Estimated portfolio gross redemption yield per annum 5.5% Estimated portfolio gross income yield per annum 6.4% Denominated in euros A well-diversified portfolio with more than 80 holdings to spread risk across varied securities 1.25%  annual management charge Competitive level of income without taking unnecessary risks   Rob Page, International Marketing Director at New Star, comments: “We have seen an increasing demand for New Star funds internationally and we are in the process of developing our distribution channels and products overseas.  The launch of the New Star Euro High Yield Fund is an addition to the stable of new products we are developing within the New Star European range. “James’s skill and expertise in the fixed income field is proven. As manager of the New Star High Yield Bond Fund in the UK, he has worked alongside Theo Zemek, forming one of the most experienced bond teams in the UK. We are delighted that James will be part of the team to develop New Star’s successful business across Europe.” James Gledhill, manager of the New Star Euro High Yield Fund, comments: “New Star has an established and strong bond presence in the UK. Using the team’s expertise in overseas bond markets we are aiming to replicate this success in Continental Europe. “The New Star Euro High Yield Fund is targeted at conservative investors looking for modest capital growth and solid income at relatively low risk. The economic environment is currently stable in terms of companies’ ability to pay off debt, making it suitable for short-dated high-yielding bonds. These bonds also take on board less interest rate risk helping to defend against rising inflation.”       Company Background New Star, one of the UK’s fastest growing fund management companies, was founded in June 2000 by John Duffield, previously the founder of Jupiter Asset Management, which he built into one of the most successful retail investment businesses in the UK. New Star currently employs more than 260 members of staff. At 30 September 2005 the group’s total funds under management (including committed funds) were approximately US$26.9 billion. Investors should note the following:   The fund yield and the amount of income distributions are not guaranteed and may fluctuate as may the capital value of the investment. The estimated redemption yield and the running yield were 5.71% and 6.57% respectively at 30 November 2005.The estimated yields are calculated by New Star Asset Managers Ltd. The gross current yield gives an indication of the likely income over the next 12 months and constitutes the income that the assets of the fund produce in relation to their value or market price. Charges and taxes are not taken into account. The New Star High Yield Fund is incorporated in Ireland and regulated by the Irish Financial Regulator. Investments should be based upon the details contained in the Prospectus, together with other information which may be obtained from the local Representative, Jesmond Mizzi Financial Services Limited. Past performance is no guarantee to future performance and the value of the investment and the currency in which it is denominated can go down as well as up. The fund may invest in investments that entail higher risk than other types of investments. This Fund is marketed in Malta in terms of the UCITS Directive. This advertisement is issued by Jesmond Mizzi Financial Services Limited which is licensed to conduct Investment Services business by the Malta Financial Services Authority.      Contact us on 21224410 or 80072206 or call at our office 67/3 South Street Valletta for more information.