New Star unveils equity hedge fund

New Star International has launched a capital guaranteed European long/short equity hedge fund to be managed by Richard Pease with Alan Miller advising on UK equities.

The New Star Capital Guaranteed European Hedge Fund, with a minimum $50,000 investment, will be wrapped with a rising capital guarantee provided by HSBC Bank plc.

Under the guarantee, investors are guaranteed to be repaid $100 per share, the launch price, on the maturity date in April 2008.

Pease, advised by Miller, already runs