News

Newton Asia fund on review as manager jumps to Jupiter

Under review fileFund research firm Morningstar has placed the Newton Asian Income fund under review after its manager, Jason Pidcock, resigned to join Jupiter Asset Management.

Pidcock managed the £4.4 billion ($6.8 billion) Newton Asian Income since its launch in 2005. Prior to joining Newton in 2004, he selected stocks and managed asset allocation of Asian equities for the BP Pension Fund.

Pidcock will join Jupiter later this year where he will help build an Asian income strategy focused on large-cap stocks.

"The dividend culture is becoming well established across Asia Pacific and a Jupiter fund offering attractive total returns over the long term should be an appealing proposition for clients," says Pidcock in a statement.

After Pidcock's departure, Newton will combine its emerging markets and Asian investment teams under Robert Marshall-Lee, who will oversee the Newton Asian Income fund. Caroline Keen and Zoe Kan will be responsible for day to day portfolio management of the fund.

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