Newton repositions Equity & Bond into Cautious fund

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 ...