BNY Mellon Asset Management is aiming to merge the Newton U.K. Equity Fund and the Newton Growth Fund into the Newton Income Fund. The firm is looking for regulatory and shareholder approval for amendments to the Newton Investment Management-managed range of U.K. equity funds.
The Newton Income Fund will be renamed as the Newton U.K. Equity Fund. The newly merged £1.3 billion portfolio will focus on delivering long-term capital growth with some income through a portfolio of approximately 100 U.K. stocks and will be managed by Richard Wilmot with Ben Russon as alternate managers.
Click here for the release from BNY Mellon.