Newton Higher Income to pay out quarterly

Newton's £2.6bn Higher Income fund will move to quarterly distribution as of next month.

The fund, managed by Tineke Frikkee, will now distribute income generated during the year over four payments instead of the current two installments. From November, investors in will receive income payments in February, May, August and November of each year. “This change will bring the fund’s distribution cycle in line with the other equity income funds in the BNY Mellon Investment Funds’ range and better fulfils the fund’s aim to provide regular income,” BNY Mellon head of corporate affairs Jamie Brookes says. The fund currently yields 7.2%, one of the highest in the IMA UK Equity...