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