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Newton Investment Management (Newton), part of BNY Mellon, today announced that James Harries is leaving the firm. Harries is a long-standing lead manager and has been running the fund since November 2005.
The process and discipline of the fund remains unchanged and it will be run according to the same investment philosophy and process.
Taking over lead management of the fund is the former alternate manager, Nick Clay. He has been a co-manager alongside Harries since December 2012 and has been running an offshore version of the fund since December 2012.
Given the fund’s low turnover, and commitment to existing investment philosophy and process, any changes are likely to be gradual and due to natural turnover rather than a result of Harries’ departure.
We have reduced the four-star rating to two-star and will be meeting the new management team in January 2016 to assess the potential of this mandate going forward.
The value of investments can go down as well as up, and you can get back less than you originally invested.Different funds carry varying levels of risk depending on the geographical region and industry sector in which they invest. You should make yourself aware of these specific risks prior to investing. Current or past yield figures provided should not be considered a reliable indicator of future performance.
Fund manager
James Harries
Date
Fund rating
Analyst
Alena Kosava
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