Why Newton?
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Managing £46 billion of assets (as at 31 Dec 2020) on behalf of clients including pension funds, corporations, charities and, via BNY Mellon, individuals -
Four decades of global investment experience, with particular expertise in absolute-return, income-focused, high-conviction and sustainable investing -
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Environmental, social and governance (ESG) analysis fully integrated into our core investment process -
Single investment team working collaboratively across asset classes and regions
Transcript
We’re global investors. We think globally. Every time we consider a security or look at an industry or country, it’s in the context of what’s happening across the world. Because we believe nothing occurs in isolation.
And we invest globally across asset classes because we see potential all over the investable universe.
What sets us apart is our collaboration, the way our single investment team is integrated.
Guided by our global investment themes, together the team researches and debates to identify opportunities and risks.
The themes are our interpretation of the forces driving long-term change in the world. They help us shut out the distraction of short-term ‘noise’.
At any given time, we may be looking at topics varying from artificial intelligence to crop protection, from driverless cars to Chinese debt.
We believe that responsible investing is integral to meeting the long-term goals of our clients. So when we look at any business, we consider many elements: not just its thematic attractions, but its fundamental qualities and environmental, social and governance risks. It’s a holistic investment approach.
And that’s why, when we look at themes, we bring together generalists and specialists from across the firm – all working under one roof, interacting and generating ideas, with a single focus – successful investment. It’s as much about avoiding the losers as picking the winners.
And as the world evolves, so do our themes. They’re not predictions; they’re a dynamic framework intended to help us navigate the investment landscape for our clients.
Your capital may be at risk. The value of investments and the income from them can fall as well as rise and investors may not get back the original amount invested.
Our investment process
Every time we consider a security or look at an industry or country, it’s in the context of what’s happening across the world. We believe the investment landscape is shaped over the long term by some key trends, and we use a range of global investment themes to capture these.
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How do our investment themes help us try to meet our clients’ objectives?
Our themes help us shut out the distraction of short-term market ‘noise’ and try to overcome the short-term uncertainties that challenge investors in order to identify the structural areas of opportunity and risk in financial markets. We believe our quest to achieve a longer-term perspective ultimately helps to generate better long-term returns for our clients. -
How does our thematic approach work in
practice?
Our global investment themes are vital to us in providing crucial perspective on the investment landscape. They identify key long-term forces of structural change, such as changing demographics and a technological revolution, and give us a framework for research and debate.
We use themes in each of our strategies alongside rigorous bottom-up analysis and the consideration of environmental, social and governance risks.
Our investment team
Collaboration is critical in seeking to deliver performance for our clients. Our single investment team of global industry analysts and investment managers works together across regions and sectors, helping to ensure that our investment process is flexible and opportunistic. Guided by our global investment themes, the team works together to identify opportunities and risks through research and debate.
Global research
Our global industry analysts look on a global basis for companies that can deliver strong long-term performance.
Environmental, social and governance (ESG) considerations are fully integrated in our research process. Our responsible investment analysts carry out an ESG quality review of each company that our sector analysts are considering recommending for investment.
Portfolio managers
The team is structured across five key areas:
• Equity income
• Equity opportunities
• Real Return
• Multi-asset
• Fixed income
Newton Investment Management Limited Board
The role of the Newton Investment Management Limited Board is to be the operating legal entity. The Board is typically responsible for the legal entity’s strategy, long term objectives and financial performance and ensuring the maintenance of a sound system of internal controls and risk management.
The Board is supported by the Newton Executive Management Committee (NEMC). The purpose of NEMC is to ensure the effective operational and strategic management of Newton.
Susan Noble
Non-executive director (Chair)
Having graduated from the University of Manchester with a BA in History, Susan joined Chemical Bank as a European equity analyst and in 1986 joined Robert Fleming Asset Management as a European equities portfolio manager. In 1997 she joined Goldman Sachs Asset Management and held the roles of Head of European Equities and Head of Global Equities, and was appointed Managing Director in 1999. Between 2005 and 2007 she was a founder partner of The Pension Corporation and was a member of its Investment Strategy Committee.
Susan was previously a non-executive director of Alliance Trust plc and Chairman of their subsidiary ATI. She is currently a non-executive director of British Empire Trust PLC, as well as being a trustee of the Hospice of St Francis in Berkhamsted. Susan joined the Newton board in March 2015.
Susan also completed an MBA at the Manchester Business School.
Kevin Carter
Non-executive director
Kevin was appointed to the Newton board in March 2019.
Kevin has 41 years of relevant industry experience. He held a number of senior roles during his 32-year executive career, including being CEO at Old Mutual Asset Managers in the UK and the US, Main Partner and Head of the European Investment Practice at Watson Wyatt LLP, and Managing Director and Head of EMEA Pension Advisory Group at JP Morgan Securities Limited.
Since 2009, Kevin has held a number of non-executive directorship and chair positions at investment firms, including Murray International plc, Lowland Investment Company plc, JPMorgan American Investment Trust Plc, Aspect Capital Limited and Hermes GPE LLP.
Having graduated from the University of Natal with a BSc Hons (cum laude) in Chemistry, Kevin completed an MBA at the Wits Graduate School of Business, Johannesburg, and a PhD in Finance at the University of Cape Town. He is also a Chartered Financial Analyst.
Greg Brisk
BNY Mellon director
In June 2016, Greg became the Head of Investment Management Governance, reporting to CEO Mitchell Harris and responsible for global governance for our Investment Management Boutiques, Distribution Businesses and core Business Groups as well as leading strategic initiatives internationally. In this role Greg has been appointed to many of our Boutique and regional boards, as BNY Mellon’s Investment Management representative, where he will serve as proxy to Mitchell Harris to ensure that Boutique oversight, coordination and needs are being addressed in a timely manner as well as helping oversee the day-to-day interaction with Risk and Compliance.
Prior to this, from January 2013, Greg was the Global Head of Risk and Compliance for Investment Management, an independent control function responsible for all aspects of risk and compliance across all of the asset management and wealth management businesses in BNY Mellon.
From April 2010-2012, Greg was responsible for the regional governance and oversight of BNY Mellon’s Asset Management business outside the U.S. as Chief Operations Officer, International Asset Management. Prior to 2012 he was Chief Operations Officer for BNY Mellon Asset Management International, the international distribution business of the group. Before taking on that role in 2002, he was the European Head of Risk and Compliance for the Mellon Group.
Before joining BNY Mellon in 1999, he worked at the Financial Services Authority as a banking regulator with responsibility for American banks in London. Greg spent his first 17 years working in a variety of roles at the Bank of England.
Hanneke Smits
BNY Mellon director
Hanneke Smits is Chief Executive Officer of BNY Mellon Investment Management, appointed on 1 October 2020.
Hanneke is a member of The Investment Association’s board, the trade body that represents UK investment managers.
Hanneke previously served as CEO of Newton Investment Management from 2016 to 2020. Prior to that she was a member of the Executive Committee at private equity firm Adams Street Partners from 2001 to 2014, and was its Chief Investment Officer from 2008 to 2014. She joined Adams Street in 1997 to successfully launch its presence in Europe and Asia, and to build out its global investment capabilities. In addition, she was an investment manager at Pantheon Ventures, and worked for Philips China Hong Kong Group.
Hanneke serves as Chair of Impetus a venture philanthropy organisation which backs charities that aim to transform the lives of disadvantaged young people. As part of this appointment, she is Trustee of the Education Endowment Foundation (EEF), founded in 2011 by The Sutton Trust in partnership with Impetus.
Originally from the Netherlands, she has a BBA from Nijenrode University and a MBA from the London Business School.
Andrew Downs
Executive director
Andrew is Interim CEO of Newton Investment Management.
Andrew is also Chief Operating Officer at Newton, overseeing Investment & Client Operations, Investment Management Support & Control, Business Strategy, IT and Projects. He joined Newton in 1994 as Head of Investment Operations, prior to which he worked in PriceWaterhouse Coopers as a senior manager in the audit department. He began his career in accounts and taxation at Bowker Orford & Co.
Andrew is a member of the Newton board. He is also a member of the Institute of Chartered Accountants in England and Wales (ACA).
Curt Custard
Executive director
Curt is responsible for all aspects of Newton’s global investment processes and team. He joined Newton in 2017 to lead the investment teams for the firm, including the portfolio managers, research analysts and the trading function.
Prior to joining Newton Curt was head of the Global Investment Solutions division of UBS Asset Management where he oversaw a 130+ person investment team in five locations. Prior to UBS, Curt held similar investment roles at Schroders and Allianz Global Investors.
Newton Executive Management Committee
Andrew Downs
Interim Chief Executive Officer
Andrew is Interim CEO of Newton Investment Management.
Andrew is also Chief Operating Officer at Newton, overseeing Investment & Client Operations, Investment Management Support & Control, Business Strategy, IT and Projects. He joined Newton in 1994 as Head of Investment Operations, prior to which he worked in PriceWaterhouse Coopers as a senior manager in the audit department. He began his career in accounts and taxation at Bowker Orford & Co.
Andrew is a member of the Newton board. He is also a member of the Institute of Chartered Accountants in England and Wales (ACA).
Curt Custard
Chief Investment Officer
Curt is responsible for all aspects of Newton’s global investment processes and team. He joined Newton in 2017 to lead the investment teams for the firm, including the portfolio managers, research analysts and the trading function.
Prior to joining Newton Curt was head of the Global Investment Solutions division of UBS Asset Management where he oversaw a 130+ person investment team in five locations. Prior to UBS, Curt held similar investment roles at Schroders and Allianz Global Investors.
James Helby
Chief Risk Officer
James is chief risk officer at Newton, and was the former compliance officer for Newton’s regulated business in the UK and the US (2012-2016). In his role, James seeks to ensure that risks to the Newton business and its employees are identified and mitigated effectively. He advises the Newton board of directors on investment and operational risk and regulatory developments and changes. He also leads risk due diligence on major business development projects.
Prior to joining Newton in January 2012, James acquired a range of experience in high-profile roles at BNY Mellon Asset Management International and at the UK Financial Conduct Authority (formerly Financial Services Authority). James graduated from the University of Nottingham with a BA in industrial economics.
Julian Lyne
Chief Commercial Officer
Julian is a member of Newton’s executive management committee with responsibility for all aspects of global distribution, client relationship management and marketing. He joined Newton in 2014 to lead the global consultant relations and UK institutional business development team.
Prior to joining Newton, Julian was Head of Institutional Business at F&C. Throughout his career he has held various roles covering client and consultant relations across both DC and DB arrangements.
Responsible investing
Our commitment to responsible investment is embedded deep in our heritage. We have been proxy voting since the 1970s, and have had responsible investment analysts since the 1990s – long before it became mainstream to do so.
We integrate environmental, social and governance (ESG) research in our security selection process across all investment strategies, as we believe that taking ESG factors into account can lead to better investment decisions. This applies not only to equities, but also in a fixed-income context.
By taking a proactive approach to engagement, we can work with the companies we invest in to increase the sustainability of their businesses over time.
Additionally, we offer a suite of sustainable strategies , which build on the integrated process by targeting a dual outcome of investment returns and positive societal outcomes.
Sponsorship
Newton sponsors a select range of opportunities that reflect our core values around active engagement, performance, perspective, teamwork and responsibility.
Notably, our sponsorship of the Oxford and Cambridge Boat Races has seen some ground-breaking firsts. In 2016, we donated our title sponsorship rights to Cancer Research UK, thereby creating the ‘Cancer Research UK Boat Races’ and giving unprecedented brand awareness to the charity.
Click on the logos below to see how we work with these fantastic organisations.
KickStart Money
Building foundations for a better financial future
Newton investment Management is proud to be a founding member of a ground-breaking collaborative project called KickStart Money. Newton alongside 19 other leading UK financial services companies and the Tax Incentivised Savings Association (TISA), aim to take financial education to over 18,000 primary school children, catalysing a movement to build a national savings culture for the future.
About KickStart Money
Significant proportions of the UK population lack the basic functional skills and knowledge to effectively manage their money. KickStart Money has been developed as a mechanism for the financial services industry to proactively and collectively transform the long term savings behaviour of a generation.
With a shared aim of raising over £1 million, KickStart Money is a serious statement of intent by the savings and investment industry and supports calls for financial education to become a compulsory element of the Primary National Curriculum.
KickStart Money’s prime delivery partner is the highly respected and award winning financial education charity MyBnk. The project has been recognised by the Money Advice Service as one of 58 winning projects chosen from 400 applications to receive funding as part of their What Works Fund.
Kickstarting the project
Empowering young people to take charge of their future by bringing money to life.
KickStart Money is delivered by MyBnk, whose programmes have been independently evaluated and proven by the Money Advice Service.
Co-designed by young people and complemented by teacher resources and homework challenges, MyBnk uses trained experts from education, finance and drama to deliver sessions that apply learnings to the real world.
Sessions include:
- My Money: Value and importance of money, where money comes from, personal relationship with money.
- My Choices: Spending, shopping, prioritising, needs and wants, budgeting, self-reflection.
- My Future: Planning for the future, saving, earning money, money motivation and vision-based goal setting.
MyBnk’s unique and engaging activities teach young people to become informed consumers, savvy savers and mindful spenders – by making finance fun.
Newton Centre for Endowment Asset Management
Based within the University of Cambridge’s Judge Business School, the Centre is dedicated to high quality research that furthers academic knowledge and practitioner understanding of long horizon investing. The Centre’s agenda includes historical perspectives on current investment concerns and research on responsible investment strategies.
The Centre publishes regularly in leading academic journals, hosts conferences, and works in collaboration with a number of other leading institutions. It also performs a key educational role, carrying out teaching in the area of long horizon investing, and developing case studies of leading long-term investors to be used for interactive classroom teaching.
Newton has been a long-term supporter of the Centre, believing in the importance of academic research and the potential for long-term value creation through bridging the gaps between research, practice and policy. We are delighted to have agreed a new five-year partnership starting in 2014 to enable the Centre to further extend its outstanding research and educational efforts in the area of long horizon investing.
Find out more about the Cambridge Judge Business School and the Centre for Endowment Asset Management.
Our strategies
We help investors across the world to meet their desired investment outcomes by using our responsible, theme-based approach, fundamental research and deep industry experience.
We run a broad range of equity, fixed-income and multi-asset strategies, and have particular expertise in absolute-return, income-focused, high-conviction and sustainable investing.
