White List labels Newton Higher Income a sell despite revamp

In SPI's latest White List Income Study, the fund's change in strategy under Wilmot's stewardship is described as a "disappointment", owing to its new focus on smaller, dividend-paying UK equities. Since taking over the popular fund from Tineke Frikkee last December, Wilmot (pictured) has widened its investment universe to include geographies outside the UK. This was a move designed to improve performance, but it has also reduced the fund's yield target. Paul Surguy, author of the White List, said: "We noted the change of manager on Newton Higher Income in our last study. While the...