Metcalfe’s appointment comes as part of the groups’ attempt to change the remit of the product to a more institutional approach, citing him as the ideal candidate thanks to his track record in the market.
Metcalfe joined from Schroders Investment Management back in 2006 having spent the past 10 years rising to director and head of the UK equity prime team. He also ran the firms UK equity fund from 2003 until 2006.
Clay will resume his role as assistant manager on the portfolio, while continuing as lead manager on the Newton managed fund. Meanwhile, Rob Marshall-Lee is to lead a new special situations research team at Newton.
Newton chief investment officer Jeff Munroe says: ““Christopher has a track record of consistently delivering above average returns with a low volatility and relatively low standard deviation. This complements the style of the fund and the approach for a core UK equity mandate.”