Update: Newton IM's income fund merger approved by shareholders

Effective 27 January

Tom Eckett
clock • 1 min read

Shareholders have approved Newton Investment Management's second attempt to merge its £66m Managed Income fund into the £69m Multi Asset Income fund.

The move had previously been planned for March 2016 but was rejected by shareholders as the original cost of the merger would have been taken on by the fund. Its latest proposal will see the authorised corporate director (ACD) now pay related costs, instead of the fund. The firm said the reason behind the merger, which is due to come into effect on 27 January, was the two funds deliver similar outcomes, but Multi Asset Income has more flexibility to invest across a number of asset classes. In contrast, Managed Income is a fund of funds, mainly invested in other Newton vehicles. New...

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 Funds

Flows into Europe-domiciled funds reach fresh high this year

Flows into Europe-domiciled funds reach fresh high this year

€63bn in October

Beth Brearley
clock 21 November 2024 • 2 min read
Pridham Report: Nearly two thirds of UK's largest fund groups record weaker net retail sales in Q3

Pridham Report: Nearly two thirds of UK's largest fund groups record weaker net retail sales in Q3

Uncertainty among investors reaching a 'boiling point'

Sorin-Andrei Dojan
clock 20 November 2024 • 3 min read
Jupiter plans merger of former Dan Nickols UK small-cap fund by end of year

Jupiter plans merger of former Dan Nickols UK small-cap fund by end of year

‘Materially similar’ funds

Eve Maddock-Jones
clock 20 November 2024 • 2 min read
Trustpilot