Newton Multi-Asset Balanced fund still merited by Morningstar despite downgrade

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Morningstar has announced the downgrading of the Newton Multi-Asset Balanced fund to a ‘Bronze’ from a ‘Silver’ rating, according to its Analyst Rating methodology.

The change follows changes to the way the fund has been managed. Previously it was overseen by a single portfolio manager – Iain Stewart – from January 2005 to February 2013. Morningstar said that the addition of co-manager Matthew Brown has caused its conviction on the fund to wane “as a result of Stewart’s diminishing involvement.”

However, the fund ratings service provider added: “Morningstar still believes the fund has merit.”

Jonathan Boyd
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