Newton changes benchmark on global dynamic bond fund
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Newton Investment Management has changed the benchmark of its global dynamic bond fund to a cash benchmark of Libor month GBP + 2 per cent per annum (gross) in order to show real returns.
Prior to this the fund tracked a customised benchmark. There will be no change to the fund’s objective of aiming to maximise the total return (income and capital growth) from a diverse range of bonds and currencies around the world.
The fund is managed by fixed income investment leader Paul Brain.
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