Newton reshuffles managers on Income and Managed funds

Newton Investment Management has changed the manager on two of its key funds, Managed and Income.

Christopher Metcalfe will now manage the £1.5bn Managed fund, previously headed up by Nick Clay.

Clay will keep his role as alternate manager on the fund, and will retain investment responsibility for a number of key segregated accounts. He will also be in charge of Newton's day to day commercial relationship with parent company BNY Mellon Asset Management, reporting to Matt Duncan, head of business strategy at Newton.

Richard Wilmot has been promoted within the firm to lead manager of the £1.47bn Income fund, previously managed by Metcalfe. Both Wilmot and Metcalfe will continue to report to Jeff Munroe, Newton's CIO.

The Managed fund has returned 10.1% over one year and 20.5% over five years, while Newton Income fund has delivered 12% over one year and 33.3% over five years, according to Morningstar data.