The decision to make the change has been taken by BNY Mellon Fund Managers following a change to Newton Investment Management’s investment team.
Simon Laing’s decision to leave the team and pursue other options has allowed Newton to review the way in which it conducts future leadership and coverage of the US equities.
The Boston Company Asset Management, one of BNY Mellon Asset Management’s specialist boutiques, will be appointed as Investment Adviser and the fund will be renamed The BNY Mellon American Fund, following regulatory approval.
The changes are anticipated to take effect in early 2012.
BNY Mellon Asset Management International CEO Alan Mearns being able to offer an alternate Investment Adviser from their high quality stable of asset management companies with a skill set that matched those of Newton was the most important priority for them when contemplating the future arrangements for their US equities fund.
"As The Boston Company has a strong US equities investment track record, we firmly believe that this is an attractive option for investors wanting to continue to have access to this asset class," added Mearns.
