Newton is to launch an Emerging Markets Income fund for Jason Pidcock to complement the manager's existing £2.1bn Asia Income fund.
Launching in September, subject to regulatory approval, the fund will look to deliver 15% more income than the FTSE All World Emerging index.
The vehicle will be managed by Pidcock (pictured) and Sophia Whitbread, who joined Newton in January 2011 as a member of its global equities portfolio team.
Pidcock will allocate across Asian and other emerging market equities, initially avoiding Russian, Eastern European and Korean stocks.
The fund will have no initial charge and will not use hedging or derivative strategies. Its FTSE benchmark will enable it to ignore the MSCI equivalent's higher weighting to Korea.
Pidcock has co-managed the Newton Asian Income fund since November 2005. He has also co-managed the £652m Newton Oriental Equity fund since August 2004.
Whitbread, meanwhile, worked at Newton from 2005-2010 as an analyst before briefly moving to Baillie Gifford.
Pidcock's Asian Income fund has returned 62.3% over the five years to 13 July versus an IMA Asia Pacific ex Japan sector average return of 22%, according to Morningstar.
Over three years the fund has returned 95.7% versus a sector average return of 46.5%.
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