Newton changes fund name
Newton is to change the name of its Absolute Intrepid multi-asset fund to Newton Real Return to better reflect its investment objective.
The name change, which will come into force from the beginning of July, is designed to highlight the fund's real return objective.
The company said the fund's investment strategy and team, led by manager Ian Stewart, would remain unchanged following its renaming.
A letter to investors explained the new name was more in line with the fund's investment objective to achieve real rates of return in sterling terms, predominantly from a portfolio of UK and international securities.
The name change is the first since the fund was restructured in 2004, having previously been named the Newton Intrepid and managed as a global equity fund.
