BNY Mellon’s Newton Investment Management has restructured its multi-asset range by renaming three funds in its mixed-asset rang and cutting charges on two of its t funds.
Newton has renamed its phoenix multi-asset, balanced, and managed funds as the multi-asset diversified return, multi-asset balanced and multi-asset growth funds respectively.
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As part of the restructure, the firm has also cut the annual management charge on the W share class of the £1.5bn Newton Managed fund, managed by Christopher Metcalfe and £2.8bn multi-asset balanced fund run by Iain Stewart, from 0.75% to 0.63%.
The ongoing charge figure for the funds will be 0.67%.
Additionally, Newton has shifted the multi-asset diversified return fund out of the mixed investment 20%-60% shares sector into the specialist sector.
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