Newton to launch EM Income fund for Pidcock

Newton is to launch an Emerging Markets Income fund for Jason Pidcock to complement the manager's existing £2.1bn Asia Income fund.

Launching in September, subject to regulatory approval, the fund will look to deliver 15% more income than the FTSE All World Emerging index. The vehicle will be managed by Pidcock (pictured) and Sophia Whitbread, who joined Newton in January 2011 as a member of its global equities portfolio team. Pidcock will allocate across Asian and other emerging market equities, initially avoiding Russian, Eastern European and Korean stocks. The fund not use hedging or derivative strategies. Its FTSE benchmark will enable it to ignore the MSCI equivalent's higher weighting to Korea. The initia...