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February 17, 2014updated 04 Apr 2017 2:30pm

Newton Investment Management unveils new UK charity fund

Newton Investment Management, part of BNY Mellon, has unveiled a new Newton Growth Fund for Charities under the new UK umbrella unit trust BNY Mellon Charities Funds.

By Verdict Staff

Newton Investment Management, part of BNY Mellon, has unveiled a new Newton Growth Fund for Charities under the new UK umbrella unit trust BNY Mellon Charities Funds.

The fund will maximise investment returns via capital growth and income from a global portfolio including equities and fixed income.

The fund, which is benchmarked against a composite of FTSE indices, has no income target and a policy of making no direct investment in companies that gain more than 10% of turnover from tobacco production.

The Newton Growth Fund for Charities requires a minimum initial investment of £5,000 and charges an annual management charge of 0.60% per annum.

It will be managed by Simon Nichols, who is part of the global multi-asset investment team.

Alan Goodwin, head of charity and institutional account management at Newton, said: "We are offering a total-return solution for charities that do not require a specific income from their investments. The Newton Growth Fund for Charities is a natural complement to our existing charity-specific funds, and reflects our commitment to providing the right solutions for our current and prospective clients."

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