View more on these topics

Newton prepares to terminate ailing Japan fund

Newton Investment Management will close its Japan fund, after deciding that it is no longer economically viable.

Investors were notified towards the end of January that, as both the onshore and offshore accounts contained less than £4m (£3.8m in December 2010), the fund will close. The date has not been confirmed.

There are no plans for the fund’s assets. Investors have been informed they will be required to remove their holdings from the fund. (article continues below)

The manager of the portfolio, Ewan Markson Brown, has left Newton.

Money Marketing understands Markson Brown is talking to Pimco, although the group declined to comment.

Newton Japan aims to achieve capital growth from a portfolio of predominantly Japanese securities. The fund has maintained a priority weighting in consumer goods since June 2010.

Recent adjustments to the fund reflect an increase of 8.1% in its exposure to the financials sector that came into effect between November and December 2010.

News of the fund closure comes in the wake of bullish statements on Japanese equities by several managers.

Stephen Harker, the co-manager of the GLG Japan CoreAlpha fund, says that Japan is in a different stage of the credit cycle, because large banks in the country spent the past decade becoming increasingly conservative.



Lloyds disappointed with delay to new approved persons regime

Lloyds Banking Group says it is disappointed the FSA decided to delay the introduction of its new approved persons regime despite the extra pressure it would have put on lenders. In December, Money Marketing revealed the FSA was delaying the implementation of the approved persons regime from the planned March 2011 start date until 2012/13. […]

The pace of change

The regulatory alphabet soup facing advisers is growing rapidly, with more than a dozen high-impact directives, reviews and consultations under way, creating uncertainty, causing a drain on resources, adding cost and piling on confusion for investors. While some, such as the retail distribution review, have been ongoing for many years, many have sprung directly from […]


Third MPC member joins call for rate rise

Three members of the Bank of England’s Monetary Policy Committee called for a rise in interest rates this month, MPC minutes reveal. Andrew Sentance, who has been calling for an increase to the Bank base rate since last June, voted for an increase of 0.5 per cent at February’s meeting. Spencer Dale and Martin Weale […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm