Newton renames £1bn International Growth as Munroe takes over

Newton has renamed its £1.1bn International Growth fund as former CIO Jeff Munroe takes over as manager.

The fund has been renamed the Newton Global Equity fund as of 30 January, while Munroe replaced Jon Bell as manager earlier this month. There have been no changes to its investment objective.

Bell, previously investment leader, global equities, joined Newton's multi-asset team in a new role earlier this month.

That move came as part of a reshuffle which saw Munroe became head of Newton's global equities team, while head of private clients and charities Simon Pryke became CIO in a redefined role.

International Growth, managed by Jon Bell, has returned 30.5% over the three years to 20 January, according to Morningstar, compared with an IMA Global sector average of 40%. Over one year it has lost 4.6% against a sector average loss of 4.4%.

Separately, Newton's parent group BNY Mellon yesterday confirmed it had renamed the Newton American fund as the BNY Mellon American fund.

The portfolio is now managed by BNY subsidiary The Boston Company Asset Management after previous manager Simon Laing departed to become head of US equities at Invesco Perpetual.