Fund Advisers
NEWTON CAPITAL MANAGEMENT LIMITED
Overview
TD Mutual Funds Advised
Investment Philosophy
Management Team
Adviser Reports
Overview
Newton* was formed in 1978 as a joint venture with Reed Stenhouse, the Scottish insurance broker. Following Alexander & Alexander’s acquisition of the company in 1986, the company was reorganized and renamed Newton Investment Management. Newton’s management bought out the Alexander & Alexander stake in 1992, and in November 1994, acquired the Capital House group of companies from the Royal Bank of Scotland PLC (RBS), with RBS purchasing a 33% interest in the company.
In October 1998, Newton completed an agreement for Mellon (now The Bank of New York Mellon Corporation) to acquire a majority interest in the company. At the beginning of July 2001, Mellon exercised its option to acquire most of the remaining shares. A further transaction in May 2002 completed Mellon’s acquisition of the Newton Group. Newton was Mellon’s first substantial acquisition outside the US.
As at June 30, 2009, Newton had approximately US$56.7bn in assets under management.
Newton is a wholly owned, but operationally autonomous, subsidiary of The Bank of New York Mellon Corporation, which was formed on July 1, 2007, after a merger between The Bank of New York Company, Inc. and Mellon Financial Corporation. Newton has full investment autonomy, and being owned by BNY Mellon allows Newton to be totally focused on investment management, as many support services – including human resources, legal, building operations and IT – are provided centrally by the parent organization.
Newton Capital Management Limited is the Securities and Exchange Commission (SEC)-registered affiliate of the UK asset manager Newton Investment Management Limited.
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Investment Philosophy
Our investment philosophy is based upon our conviction that no company, market, or economy can be considered in isolation; each must be understood in a global context.
We believe firmly that, in a rapidly shrinking world, investment prospects can only be evaluated properly by understanding events, trends and competitive pressures on a worldwide basis. We believe also that a geographically constrained approach limits a portfolio manager's ability to harness investment opportunities.
Our investment approach is founded upon the use of themes which represent our ideas about likely forces of change in the world. Our global, thematic philosophy and process allow us to gain long-term perspective on global financial markets and economies, to anticipate how the world will change and to identify the beneficiaries of such change. Our themes evolve over time: old ones may cease to be relevant and new ones emerge as the investment backdrop changes. Because themes are about change, our process is much less likely to be caught out by change.
Newton’s appeal; core beliefs:
Performance:
Newton exists primarily to increase the wealth of its clients by aiming to deliver strong and transparent investment performance.
Perspective:
Newton uses a distinctive global, thematic approach to maintain perspective and to generate strong and durable investment ideas.
Teamwork:
Newton uses a coherent, collaborative and enduring team-based investment approach.
Consistency:
Newton seeks to achieve consistent and stable growth in its business, to maintain strong investment performance and to manage portfolios that are appropriate to the fulfillment of clients' objectives.
Management Team
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James Harries
Title: Director, Global Equities
Education: Masters Degree in Finance, London Business School,
BSc in Politics, Bristol University
Industry Experience: Since 1995
Previous Positions: Manager, Veritas Asset Management
Fund(s): TD Global Select Fund
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Paul Markham
Title: Investment Manager, Global Equities
Education: BA in Modern Languages, University of Sheffield,
IMC (Investment Management Certificate)
Industry Experience: Since 1997
Previous Positions: Visa International, Morgan Stanley
Fund(s): TD Global Select Fund
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Adviser Reports
Real Audio Adviser Reports
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