UK Fund House Newton Restructures Portfolio Manager Roles

Alisha Ramkaran

24 March 2014

London-based Newton Investment Management, BNY Mellon’s global thematic investment boutique, changed the lead portfolio manager role on two pooled vehicles: Newton Higher Income Fund and Newton Oriental Fund.

The lead portfolio management roles of the firm’s active equity and equity income-pooled vehicles are most effective if they are split apart, following a strategic review by , it said in a statement.

The company has decided to have separate lead managers on the Newton Higher Income Fund and Newton Equity Fund, which is in line with the process Newton adopted for the management of its global equity and emerging equity-pooled vehicles.

Christopher Metcalfe has since been appointed as the lead manager on the Newton Higher Income Fund. Currently, Metcalfe is the manager of the Global Growth & Income Fund for charities and the Newton Managed Fund.

Richard Wilmot, whom Metcalfe replaces, will continue to lead the Newton Equity Fund.

"The Newton Higher Income Fund is now structured as we envisaged following the change to the yield discipline in 2013 and under Christopher's new leadership on the fund, we believe that it is positioned to perform well. Christopher currently manages a range of portfolios with an income requirement and he has extensive experience in managing UK and global equity portfolios," said Simon Pryke, chief investment officer, Newton.

Along with refocusing of the investment structure, Caroline Keen has been promoted to lead portfolio manager on the Newton Oriental Fund. Since 2013 Keen has been supporting Jason Pidcock as co fund manager on the Newton Oriental Fund; she has also been a member of the Newton’s Asian Equities team since 2009.

"We are confident that by promoting Caroline to lead manager of the Newton Oriental Fund, our investors will benefit from her portfolio leadership. Jason Pidcock will be the alternate portfolio manager," said Pryke.