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Newton’s Stewart gets co-manager on £3bn fund; Russon exits

Newton’s Stewart gets co-manager on £3bn fund; Russon exits

Newton Investment Management is appointing Matt Brown as a co-manager alongside Iain Stewart on its £3 billion Balanced fund.

Brown, who joined the firm in 2000, has managed institutional money in this strategy. The move will provide some leeway for Stewart (pictured), who also manages the Citywire Selection flagship £7 billion Newton Real Return fund, as well as the £500 million Global Balanced fund.

Jamie Brookes, international head of marketing and corporate affairs at BNY Mellon, said: 'The assets under management in Real Return have grown significantly since the strategy was launched in 2004 and this move is designed to create greater focus within the multi-asset investment team across both relative and absolute strategies.

'Newton has a strong team based approach to investment. These changes will have no impact on clients. The funds will still be governed by the same thematic philosophy and investment process.'

In another move, Ben Russon, manager of the £350 million Newton UK Opportunities fund, is leaving the firm.

He will be replaced by Paul Stephany, manager of the £41 million Newton UK Smaller Companies fund and deputy on the £2.2 billion Higher Income fund.

Newton also undertook a restructure across a range of its funds at the end of last year. This saw manager Tineke Frikkee taken off the Higher Income fund, which was handed to Richard Wilmot.

On the UK Smaller Companies fund, Stephany has returned 59.4% over three years to 12 February, versus the benchmark’s 58.4%.

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Iain Stewart
Iain Stewart
20/30 in Mixed Assets - Absolute Return GBP (Performance over 3 years) Average Total Return: 13.12%
Paul Stephany
Paul Stephany
34/180 in Equity - UK (All Companies) (Performance over 1 year) Average Total Return: 11.33%
Ben Russon
Ben Russon
71/98 in Equity - UK Equity Income (Performance over 1 year) Average Total Return: 5.87%
Tineke Frikkee
Tineke Frikkee
40/80 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 51.13%
Richard Wilmot
Richard Wilmot
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