Newton Investment Management is renaming its Equity & Bond fund and lowering its equity exposure.
The name of the 16-year old fund will change to the Newton Cautious Managed fund, and Newton will reduce the risk level on the vehicle.
The £49m portfolio will have 60% at most in shares, and at least 30% in fixed income and cash.
At the end of 2009, the firm said it held 51.2% in shares from the US, UK, Germany and Switzerland. Meanwhile, it had 31.4% in bonds from the UK, US and Germany and 17.3% in other securities.
Greg Brisk, director at BNY Mellon Fund Managers, of which Newton is part, says: "This repositioning will involve adjusting the asset allocation of the fund so that it will hold a slightly lower proportion of equities."
At the end of December, the fund moved from the IMA's Balanced Managed sector to the Cautious Managed sector.
Newton said the management fee on the sterling income share class also fell on that date, from 1.5% to 1.25%.
On 30 October the fund changed lead manager, from Jamie Korner to Simon Nichols, who is alternate fund manager on the Newton Higher Income fund.
At Newton since 2001, Nichols is a member of its UK and global investment committees and runs two UK equity mandates.
The fund still aims to "achieve income and capital growth from a portfolio of equities and fixed interest securities". All of the above changes will take place by 29 January.
