Newton Investment Management, part of BNY Mellon, today announced portfolio manager Zoe Kan as lead manager of the Newton Asian Income Fund.
Zoe who has been at Newton for 15 years, has been involved in the management of the Newton Asian Income Fund since its inception in 2005.
In May 2015, Newton took the decision to combine its Emerging-market and Asian equity investment teams under the leadership of Rob Marshall-Lee, and adopted a team-based approach to managing the Asian Income Fund. Adopting this approach has yielded strong results for investors on a relative basis, with the fund outperforming its comparative index, on a gross-of-fees basis, by 12.5% (+1.7% versus -10.9%) over the 12 months to 31 May 2016.1 It currently yields 4.34% versus the comparative index yield of 3.29%.2
While the whole team has contributed to this success, Zoe has taken the lead on managing the fund on a day-to-day basis, and Newton is now taking this opportunity to confirm Zoe as the named lead manager. In line with the approach taken by Newton with its other managed funds, it is also confirming that Rob Marshall-Lee will be named as the alternate manager on the fund.
Fergus McCarthy, Head of UK and Ireland Intermediary Distribution, BNY Mellon Investment Management, said:
“We have been very pleased with the performance of the Newton Asian Income Fund over the last 12 months, and this is due to the experience and skill of the Newton Emerging and Asian equity team under the leadership of Rob Marshall-Lee. Newton’s philosophy and process runs through all of the funds it manages, but we recognise that advisers and their clients like to have a named manager on the funds they invest in. It is common across Newton’s fund range to have a named lead and alternate manager, and it is now the right time to confirm the lead and alternate manager on the Asian Income Fund.”
“Additionally with Rob having had a good opportunity to review the best way for the team to continue to deliver strong investment performance, it has been decided to combine the strength of the team-based approach with the visibility of a named lead manager on the fund. We are delighted with the performance turnaround Rob, Zoe and the team have achieved over the past 12 months.”
Rob Marshall-Lee, Head of Emerging and Asian equities at Newton, said:
“Zoe is a natural choice to lead the fund, given her significant experience on the fund itself and in Newton’s wider management of Asian equities.”
Newton’s Emerging and Asian equity team comprises eight investment professionals with an average of eight years at Newton and 11 years in the industry. In addition, the team is supported by Newton’s 20 highly qualified industry analysts and four ESG analysts, who play a key role in the overall investment process.
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Notes to editors:
Zoe Khan is a portfolio manager on the Emerging and Asian equity team at Newton. She is lead manager of the Newton Asian Income Fund, and alternate manager on the Newton Emerging Income Fund and BNY Mellon Emerging Equity Income Fund. Zoe joined Newton in 2000 and holds a degree in German and economics. She is a CFA charterholder.
Robert Marshall-Lee has 21 years’ investment experience, 17 of which have been at Newton. He is investment leader of Newton’s Asian and emerging equity team and is the manager of the Newton Global Emerging Markets Fund. Since joining Newton in 1999, Robert has worked as a global industry analyst specialising in the mining, paper, steel, tobacco and utility sectors, before becoming a fund manager for global and, since early 2011, emerging market funds. Robert began his career at Deloitte & Touche. He has a Bachelor of Science (Hons) and holds the ACA (Chartered Accountant) and ASIP (Investment) qualifications.
Newton is a London-based global investment management subsidiary of The Bank of New York Mellon Corporation. With assets under management of £48.3 billion (as at 31 March 2016), including assets managed by Newton Investment Management Limited as dual officers of Newton Capital Management Limited and The Bank of New York Mellon, Newton’s group of affiliated companies provides investment products and services to a wide range of clients, including pension funds, charities, corporations and (via BNY Mellon) individuals. News and other information about Newton is available at www.newton.co.uk and via Twitter: @NewtonIM.
BNY Mellon Investment Management is one of the world’s leading investment management organizations and one of the top U.S. wealth managers, with $1.6 trillion (as at 31 March 2016) in assets under management. It encompasses BNY Mellon’s affiliated investment management firms, wealth management services and global distribution companies. More information can be found at www.bnymellon.com.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of 31 March, 2016, BNY Mellon had $29.1 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
All information sourced by BNY Mellon as of 31 May 2016. This press release is qualified for issuance in the UK and Europe and is for information purposes only. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorized. This press release is issued by BNY Mellon Investment Management EMEA Limited (ex-US) to members of the financial press and media and the information contained herein should not be construed as investment advice. The value of investments and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements. When you sell your investment you may get back less than you originally invested. Registered office of BNY Mellon Investment Management EMEA Limited: BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorized and regulated by the Financial Conduct Authority. A BNY Mellon Company
1 Source: Newton, as at 31.05.16. Gross of fees. Comparative index is the FTSE AW Asia Pacific ex Japan index.
2 Source: Newton, as at 31.05.16