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Falling star that has lost much of its sparkle; John Duffield's [pounds sterling]25m holding in New Star has suffered after shares plummeted to under a pound.

Byline: Brian O'Connor

JOHN Duffield's New Star Asset Management is counting the costs of aspell of underperformance which has wiped 80pc off its stock market value.

While some of its problems can be blamed on market turbulence, clients havepulled out [pounds sterling]600m since January.

There are fears of predators such as Aberdeen Asset Management circling.

All of this has wiped some of the shine off Duffield, a legendary figure whomade his first fortune at fund manager Jupiter, selling it to Germany'sCommerzbank for [pounds sterling]680m after a public row about the price. His former secretarymade [pounds sterling]1m from the sale.

He built a second ...

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