Troy eyes mid-autumn Global Income launch for ex-Newton's Harries

Subject to regulatory approval

James Harries, former manager of the Newton Global Income fund, said joining Troy Asset Management has been a case of "right house and right strategy" against a "very difficult" global backdrop, with the boutique preparing to launch a fund for him in mid-autumn, subject to regulatory approval.

Harries (pictured) joined the group in early June after leaving Newton at the end of last year, where he ran the £4.5bn Global Income fund as well as a range of BNY Mellon Global Real Return strategies. The manager said he was attracted to Troy by the group's absolute return mindset, with this approach particularly appealing in the current environment as many yield-hungry investors are allocating more than normal to equities but do not want to take on too much risk. It is also aligned with his own investment style, he added. "Over time, the Newton global income strategy very much migr...