New Star are one of well known fund providers, they advertise heavily in the money sections of the broadsheet newspapers always launching a "new, exciting opportunity". They have a distinctive psychedelic multi-coloured logo, which apparently looks that way because the printers forgot to add any black to the printing proof.
They were founded by George Duffield, who previously built up Jupiter. He has been extremely generous in sharing his wealth by giving share options to his employees.
However things have started to come unstuck int he last year as Financial advisers have moved money out of under-performing New Star funds.
When the company was established in the early noughties, they brought in many highly paid star fund managers and continue to launch new Funds.
The perception now withing the industry is that they have concentrated too much on trying to grow rather than doing the basics of investing existing investor's money wisely. Some of the funds also have a novelty feel about them.
That said, they still have some very funds. Which ones? speak to your adviser ;).