Newton replaces Wilmot on struggling Higher Income fund

clock

Newton has replaced Richard Wilmot on its struggling £2bn Higher Income fund.

Wilmot, who also manages Newton's UK Opportunities fund, will be replaced by Christopher Metcalfe, who currently runs the group's Managed fund. Since taking over in December 2012 from Tineke Frikkee, Wilmot has failed to beat the sector average, returning 9.4% in the last year compared to the UK Equity Income sector average of 14.1%. This leaves the fund in the bottom quartile of one of the industry's most important sectors. In comparison Metcalfe has returned 8.9% for investors over the same period in his £1.4bn Managed fund, versus the sector average of 4%. Wilmot will continu...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Stories of the Week: Surging gilt yields puts pressure on government's debt management

Stories of the Week: Surging gilt yields puts pressure on government's debt management

Government debt, investment trusts, and Saba: The biggest stories from the world of investment and asset management this week

clock 10 January 2025 • 1 min read
REGISTER NOW TO WATCH: Investment Talks 2025: Optimism, disruption, and Trump 2.0

REGISTER NOW TO WATCH: Investment Talks 2025: Optimism, disruption, and Trump 2.0

Join our online event on the 23rd January

Hardeep Tawakley
clock 09 January 2025 • 1 min read
UK adults hold the smallest percentage of wealth in investments of all G7 countries

UK adults hold the smallest percentage of wealth in investments of all G7 countries

Just 8%

Sorin Dojan
clock 06 January 2025 • 2 min read
Trustpilot