View the article online at http://citywire.co.uk/money/article/a884630
New AAA-rated manager for Newton UK Equity fund
Citywire AAA-rated Paul Stephany makes way for Christopher Metcalfe on the £1 billion Newton UK Equity fund.
Newton's owner BNY Mellon declined to comment on the reason behind Stephany stepping back, but confirmed he remains an employee at the firm.
Stephany had a short tenure managing Newton UK Equity fund after his appointment as lead manager in September 2014. Over the year to January, the fund has returned 4% versus a 2.9% loss by the average UK equity fund.
Newton UK Opportunities, which Stephany took over from Ben Russon in 2013, has delivered a 37.6% three-year return, compared to the UK All Companies sector average of 18.29%.
Metcalfe, who is also AAA-rated by Citywire, previously managed the Newton UK Equity fund between 2007 and 2011. He will continue to run the Newton Growth & Income fund , Multi-Asset Growth and UK Income funds.
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