James Harries has handed over lead management of the offshore £2.8bn BNY Mellon Global Equity Higher Income fund to Nick Clay in a reshuffle of the firm's income team.
BNY Mellon is set to launch fully unbundled RDR-ready share classes across its entire UK fund range in September.
Financial planner Informed Choice has criticising the bulk of absolute return funds for charging unjustifiably high fees and lacking consistency of returns.
Newton is to launch an Emerging Markets Income fund for Jason Pidcock to complement the manager's existing £2.1bn Asia Income fund.
Richard Wilmot, manager of Newton's £1.3bn UK Equity fund, has made a foray into the UK banking sector, snapping up shares in Barclays.
Managers including Newton's Tineke Frikkee were among those hit as Britvic's shares fell as much as 17% yesterday, as the company revealed the recall on its popular Fruit Shoot drinks will cost up to £25m.
Slowing industrial production is the largest headwind facing Northern Europe in the near term, according to Newton's bond manager Paul Brain.