Newton to launch Multi-Asset Income fund

Newton to launch Multi-Asset Income fund

Newton is set to launch a Multi-Asset Income fund targetted to take advantage of the changes in pensions coming up in April.

Paul Flood, manager of the Newton Multi-Asset Diversified Return fund and Nick Clay, manager of the BNY Mellon Global Equity Higher Income fund, will co-manage the fund.

The fund will launch on February 4 and comes amid a spate of revamps to multi-asset offerings by asset managers preparing for pension reforms.

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Asset managers have been launching and changing products to create offerings that will appeal to retirees in 2015 when they will be allowed to take complete control of their pension, rather than having to buy an annuity.

Newton, a boutique of BNY Mellon Investment Management, has already cut charges on two of its major funds and renamed three vehicles as part of a revamp of its multi-asset suite.

Fergus McCarthy, co-head of UK intermediary distribution at BNY Mellon said: “Given the recent changes to the UK pension landscape, we are seeing significant and growing client demand for multi-asset investment solutions that can provide a sustainable income whilst also providing the potential for capital growth over the long term to provide for future generations.