Newton Japanese fund manager Martin Batty is to leave the firm and has already handed over the runni...
Newton Japanese fund manager Martin Batty is to leave the firm and has already handed over the running of his on and offshore portfolios to other managers within the group.
Newton's investment leader of Japanese equities, Miki Sugimoto, has taken over management of the Japanese Oeic, which she will run alongside the offshore MGF Japan fund.
Batty's other portfolios, including the £19.7m Intrepid Oeic in the active managed sector, will be allocated to other fund managers within the team. In the 12 months to 22 July, Intrepid has returned -27.4% against a sector average of -22.4%.
Newton Chief Investment Officer Jeff Munroe said Batty decided to leave after changing his mind about the global management role Newton was moving him towards. He now plans to take some time off before making his next career move, according to Monroe.
'He'd taken on a number of global portfolios and was in the process of completing the move to be a global manager when he decided, perhaps initiated by some of the market moves over the past number of weeks and months, that he would prefer not to do that and would rather go back to just running Japanese portfolios,' said Monroe.
Newton's £39.7m Japanese Oeic has returned -22.6% over the 12 months to 22 July, against a sector average of -21.7%, on an offer-to-bid basis.
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