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
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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