Record run by Shelton

The Newton Income Fund managed by Robert Shelton has been awarded an frAAA-rating for the tenth consecutive year.

Standard & Poor's confirmed that no fund manager has equalled Shelton's 10 consecutive frAAA ratings since it began rating funds in 1990.

The research group praised Shelton, who has been running the fund since March 1988, in its recent UK Growth fund report. With his contrarian stance and his focus on unfashionable areas of the market, Shelton has steered the £1.017bn fund to rank 28 out of the 235 funds in the UK All Companies sector over the three years to 11 October.

Over that period the fund has returned 40.6%, on an offer to bid basis, compared with the sector average of 26.4%.

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