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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.

 
New AAA-rated manager for Newton UK Equity fund

Citywire AAA-rated Paul Stephany has been replaced as the manager of the £1 billion Newton UK Equity fund .

Christopher Metcalfe has taken over the UK Equity fund and £300 million UK Opportunities fund , also previously managed by Stephany, in the interim.

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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  • Paul Stephany
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