NSAM New Star

    EMBARGOED UNTIL 7.00AM 15 MAY

Not for release, publication or distribution in whole or in part in or into the
United States, Australia, Canada or Japan.

                                                                    15 May 2008

                      New Star Asset Management Group PLC                      

                         Interim Management Statement                          

New Star Asset Management Group PLC ("New Star") today issues the following
interim management statement.

The Group's assets under management were approximately �21.7 billion at
yesterday's date, down from �23.1 billion at 31 December 2007 but up from �20.3
billion at 18 March 2008. Net outflows of assets for the year to date are �0.7
billion. These include net outflows from UK retail funds of �249 million
compared to net inflows of �914 million in the corresponding period in 2007,
and net outflows from international retail funds of �395 million, compared to
net inflows �688 million in the corresponding period in 2007.

The investment performance of our European Growth Fund in the year to date is
much improved. Our UK investment performance remains mixed but we look forward
to the arrival of two experienced fund managers to join this team in the next
two months.

We expect shortly to send to shareholders details of our new employee incentive
scheme. This is primarily intended to replace the lock-in provisions that apply
to existing shares and options owned by our employees and expire in August
2009.

The trading environment remains challenging. Against this background New Star
is trading in line with our expectations.

Assets under management

                   At 31 December    At 14 May Increase/decrease
                             2007         2008                  
                                                                
                        � billion    � billion                  
                                                                
UK mutual funds              10.6         10.0            (5.7%)
                                                                
International                 1.0          0.6             (40%)
mutual funds                                                    
                                                                
Institutional                 8.7          8.6           (0.01%)
                                                                
Alternative                   1.6          1.5            (6.2%)
assets                                                          
                                                                
Other                         1.2          1.0           (16.6%)
                                                                
Total                        23.1         21.7            (6.1%)

Enquiries:

Citigate Dewe Rogerson

Anthony Carlisle (office) 020 7638 9571

(mobile) 07973 611 888

This announcement is not for publication or distribution to persons in the
United States of America, its territories or possessions or to any US person
(within the meaning of Regulation S of the US Securities Act of 1933, as
amended). Neither this announcement nor any copy of it may be taken or
transmitted into Australia, Canada or Japan or to Canadian persons or to any
securities analyst or other person in any of those jurisdictions. Any failure
to comply with this restriction may constitute a violation of United States,
Australian, Canadian or Japanese securities law. The distribution of this
announcement in other jurisdictions may be restricted by law and persons into
whose possession this announcement comes should inform themselves about and
observe any such restrictions.

Forward-looking statements

This announcement contains certain forward-looking statements with respect to
the financial condition, results of operations and businesses of New Star Asset
Management Group PLC. These statements and forecasts involve risk and
uncertainty because they relate to events and depend upon circumstances that
will occur in the future. There are a number of factors that could cause actual
results or developments to differ materially from those expressed or implied by
these forward-looking statements and forecasts. Nothing in this announcement
should be construed as a profit forecast.



END

New Star Asset Management (LSE:NSAM)
Historical Stock Chart
From Oct 2024 to Nov 2024

New Star Asset Management (LSE:NSAM)
Historical Stock Chart
From Nov 2023 to Nov 2024