New Star Asset Management has revealed that its joint-chief investment officer Stephen Whittaker is leaving the group, as the London-based funds house moves to turn around a period of troubled performance.

The group confirmed Whittaker's departure in a statement this morning and said it was already in discussion with possible successors. His replacement will work alongside co-chief investment officer Gregor Logan and "be specifically tasked with improving the risk-adjusted returns across the entire fund range".