Robert Shelton, AAA-rated manager of the Newton Income and Managed funds, is expected to return to w...
Robert Shelton, AAA-rated manager of the Newton Income and Managed funds, is expected to return to work by the summer, following a car accident earlier this year.
Standard & Poor's had maintained Shelton's AAA rating on the £1.06bn Newton Income fund for an unmatched 11 consecutive years but placed the fund's rating under review after news of his accident broke on 1 March.
This was reversed after just four days when the ratings agency was told by Newton that Shelton was expected to be back at work by 1 August, the date he is due to face Standard & Poor's analysts for his biannual fund manager interview.
Since the accident, the fund has been managed by John Wood, who has been named alternate manager on the fund for the past four years.
S&P has now decided to leave Shelton's rating intact as he has a return date and has been in regular contact with his colleagues and the group's chief investment officer, Jeff Munroe.
Newton declined to add to its initial statement that it would not confirm when Shelton will return but said it wished him a speedy recovery.
Last June, Shelton had three months off work following a rock climbing accident. He remains a key fund manager at Newton. Newton Income has posted top quartile returns over the three, five and ten years to 12 April.
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