Newton Investment Management has restructured its Asian and emerging market teams after Jason Pidcock quit the firm to join rival group Jupiter.
The overhaul sees Rob Marshall-Lee - who joined the firm in June 1999 and manages the Newton Global Emerging Markets fund - take command of the Asian and emerging markets teams, which have now been combined.
Pidcock, who had been at Newton for 11 years, handed in his notice earlier this year and it has been revealed he is joining Jupiter Asset Management to develop an Asian Income strategy for his new employer.
The merged Newton Emerging and Asian Equity team consists of seven investment professionals, supported by 20 global sector analysts and four environmental, social and governance (ESG) analysts.
The franchise manages more than £6 billion (8.4 billion euros) across four key strategies: Asia Pacific ex-Japan Equity, Asian Equity Income, Global Emerging Markets Equity and Emerging Equity Income.
Pidcock’s Asian Income and Emerging Income funds are moving from a lead and alternate manager structure to a team-based approach following his departure. Caroline Keen, who has managed the Asian fund alongside Pidcock since 2011, will continue to play an integral role in the newly combined team.
However, the fund has gone through a trickier spell more recently after Pidcock lost his + rating in July 2014, with lack of exposure to Chinese banks impacting performance.
Newton chief investment officer Simon Pryke said: ‘Newton’s process has been successfully built around the whole being greater than the sum of its parts. In Rob, we have a very strong leader bringing together two complementary and collaborative investment teams who have always shared investment ideas.
‘Emerging and Asian equities are significant parts of Newton’s business and we are committed to delivering performance for our clients and growing assets in these strategies.’