Nick Clay has replaced James Harries as manager of the Newton Global Income Fund with immediate effect. James Harries has left Newton to join Troy Asset Management where we understand he will take up a fund management role on which we are awaiting further details.
Nick Clay has worked at Newton for 15 years and has 25 years' investment experience. He currently manages the offshore version of the Newton Global Income Fund, which is similar to the onshore fund. Prior to this he managed the Newton Multi-Asset and Newton UK Equity funds.
The Newton Global Income Fund was added to the Wealth 150+ list of our favourite funds across the major sectors in order to access James Harries' talents. While Nick Clay has some experience, his track record managing a global income fund is short.
In light of these developments we felt it prudent to remove the fund while we monitor the transition and meet with the new manager. We will update clients when we have further information. In the meantime, we don’t feel investors need to make any changes, provided the fund still meets their objectives.
Find out more about Newton Global Income Fund including how to invest