Newton Fund Managers is in negotiation with its fund management team to put into place the second st...
Newton Fund Managers is in negotiation with its fund management team to put into place the second stage of a remuneration package, writes Robert Stock.
The group put into place the salary and bonus element of fund manager's pay a year ago following its majority buy-out by US-based Mellon Financial.
The current round of negotiation, due to be completed in early July, is to add an equity element to the package to incentivise managers to remain with the group.
Newton refused to comment on the negotiations but is keen to continue its record of keeping high profile managers. It has been untouched by fund management changes over the past 12 months ' a period in which, Skandia estimates, around 900 fund managers moved between groups.
Robert Shelton, manager of the £1.2bn Newton Income fund, rated AAA by Standard & Poor's for the past 10 years, and the AAA-rated £423.8m Newton Managed fund, has been with the group since 1984.
Toby Thompson, manager of the AAA-rated £613m Newton Higher Income fund has been with them since 1992 and Helena Morrissey, who manages the A-rated 28.7m Newton European High Yield Bond fund, the AA-rated £136.2m Newton High Yield Bond fund and AA-rated £69.8m Newton International Bond fund, has been with the group since 1994.
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