S&P reviews A-rating on Newton funds

Standard & Poor's is reviewing its A-rating on two of Newton's bond funds as chief executive Helena Morrissey no longer participates in their management. Theresa Egan took over management of Newton's £136.8m High Yield Bond fund and its £25.4m European High Yield Bond fund in July 2001, replacing Morrissey, who then became chief executive of Newton Investment Management. Morrissey initially continued to have a hand in the running of the two funds after her promotion but Newton said she no longer has the time. 'It was a gradual handover process that took quite a few months but more rec...