Newton adds flexibility to funds

stewart cowley warns his peers against not utilising ucits iii powers in their portfolios

Managers who fail to utilise Ucits III powers will be out of business within three years, according to Newton's Stewart Cowley. At the beginning of October, his International Bond fund adopted extra powers available to vehicles under Ucits III including the ability to invest in deposits, derivatives and forward transactions. In addition, from 13 November, the proportion of the fund he can invest in other collectives will be doubled to 10%. Similar proposals have also been adopted for many other Newton vehicles including its High Yield Bond, European High Yield Bond, Long Corporate Bond,...