Newton merges UK equity fund range

Newton has completed the merger of its £62m Newton UK Equity and £95m Growth funds into the £1.2bn Income fund, re-naming the product the Newton UK Equity fund.

The rebranded product is managed by Richard Wilmot and co-manager Ben Russon. Both of the merged funds were also managed by Wilmot. The Newton UK Equity fund now has assets of £1.34bn and will focus on delivering long-term capital growth with some income through a portfolio of approximately 100 UK stocks. According to the firm, the decision to merge the funds was taken to better clarify the company's UK suite of products. "At a time when extreme policy action significantly distorts the level of income that can be earned for a given level of capital risk, the UK equity market has a ...