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15th December 2015

Newton Global Income fund – change of manager, but Elite Rating maintained

Newton Asset Management

Newton have announced that, with immediate effect, Nick Clay, alternate manager on the Newton Global Income fund, will take on the role of lead manager. James Harries, who was lead manager on the fund since its launch 10 years ago, has resigned and will be joining Troy Asset Management in 2016.

Nick has a considerable amount of experience and has been alternate manager on the fund since August 2012. He is lead manager on the almost identical Irish-domiciled BNY Mellon Global Equity Income fund.

Ryan Lightfoot-Brown, research analyst at FundCalibre, attended a meeting with Nick today. He commented: “The process and discipline of the fund remains unchanged. The only difference is that James looked more at the macroeconomic environment, whilst Nick has more of an emphasis on stock selection. As such, the portfolio is likely to be slightly more concentrated and therefore the risk profile may increase marginally. Newton has an overall thematic approach, however, and the rest of the team’s resources are unchanged, so I see no major reason to view the fund differently.

“I was impressed by both Nick and the fund analysts I met this morning and, as Nick has been lead manager on an almost identical fund, with James as his alternate manager, I am comfortable that Newton Global Income fund retains its Elite Rating.”


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