In light of his departure, Newton will combine its Emerging and Asian Equity teams under the leadership of Rob Marshall-Lee, a member of the team since 2011. This restructure will bring the Newton Asian Income Fund under the responsibility of the wider team, rather than having a lead manager at its helm.
On the Newton Emerging Income Fund, Rob Marshall-Lee will replace Jason Pidcock to become alternate manager alongside Sophia Whitbread, who will become the fund's lead manager. Together Sophia Whitbread and Rob Marshall-Lee also currently manage the Newton Global Emerging Markets Fund; however, their stand-alone track records are relatively short.
Newton has demonstrated a commitment to long-term investing in the Asian and emerging markets regions, and we are pleased they will be maintaining their long-standing thematic approach to investing. That said, we initially supported the Newton Asian Income and Emerging Income Funds because of the experience and talent of Jason Pidcock, an established Asian equities investor.
In our view, this does not mean any changes should necessarily be made to an existing portfolio, providing the funds continue to meet the overall portfolio's objectives. We view the combined exposure to the long-term growth potential of emerging markets, with the attraction of a regular income, as an exciting prospect.
However, in light of Jason Pidcock's departure we currently feel it is prudent to remove the funds from the Wealth 150 list of our favourite funds across the major sectors. We will be meeting the team in due course, and at this point we will inform investors if our views change.
Jason Pidcock will be leaving Newton to join Jupiter Asset Management. While his official joining date has not yet been announced, Jupiter has confirmed he will be responsible for helping to build an Asian Income strategy. We will provide further details as soon as they are available.