Newton to move Intrepid fund into IMA Absolute Return sector

Newton is moving its £365m Absolute Intrepid fund into the newly created IMA Absolute Return sector. ...

Newton is moving its £365m Absolute Intrepid fund into the newly created IMA Absolute Return sector. The multi-asset vehicle invests in bonds and equities as well as using derivatives and other assets to smooth returns and protect on the downside. It uses a global thematic investment process to select stocks for the focused, actively managed portfolio. It is run by Iain Stewart, director of investment management for the group. Paul Feeney, head of international distribution for BNY Mellon Asset Management, the distributor of the Newton managed range of pooled funds, said: “The IMA’s new ...