The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Mellon Sub Makes Foray Into DC Market Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, February 22, 2006

Mellon Sub Makes Foray Into DC Market

by: Marie Glancy

Despite being headquartered in the United Kingdom, Newton Capital Management is taking a stab at the 401(k) market. The London-based money manager of $50 billion is betting that Mellon Financial Corp., its corporate parent, will be able to give it a boost in the market.

Mellon Financial sold its U.S. 401(k) recordkeeping business to Affiliated Computer Services (ACS) last year, but retained its 401(k) investment-only business.

Newton's first step in the effort is the launch of the Newton International Equity Fund, its first mutual fund in the United States.

Already, the new fund has attracted an initial investment of $30 million from the pension fund division and the reserves of a "leading U.S. insurance company," according to Newton officials. The identity of the insurer was not disclosed.

"With Newton’s performance track record in international equities and distinctive investment strategy, we expect the fund to facilitate our entry into the 401(k) market," said Mark Scott, head of Newton's institutional business, in a statement. A spokesperson for Newton was not immediately available for comment.

The launch of the fund forms part of a broader strategy Newton hopes will draw 30 separate account clients and $4 billion of institutional assets during the firm’s first two years of operation in the US market, he said.

Scott added that the firm is working with third-party distributors and has recently been tapped to provide its EAFE ADR strategy to the wrap account platforms of two US-based investment banks. He did not name the banks.

The Newton International Equity Fund, which invests mainly in countries in Europe, Australasia and the Far East, is run by Paul Butler, investment leader for global equities.

Butler, a 19-year company veteran, chairs Newton’s global equity model group and is a member of the equity strategy group, macro strategy group and Newton’s investment committee. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2023: Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. MFDF webinar - The SEC's Swing Pricing and Liquidity Proposal: What You Should Know, February 1
  2. Exchange: an ETF Experience, Feb 5-8
  3. WE US - Breakfast at Nobu Hotel, February 6
  4. MFDF Director Discussion Series - Open Forum (Stuart, FL), February 7
  5. 8th Annual Expect Miracles in Manhattan, February 16
  6. MMI Next Chapter: Rockin' Retirement, February 21
  7. Expect Miracles Boston YPEM Battle of the Bartenders, February 28
  8. MFDF webinar - Fund Industry Claims Trends: An Insurer's Perspective, March 1
  9. Nicsa Strategic Leadership Forum 2023, Mar 1-3
  10. IMEA Data Council Summit, Mar 7-8
  11. MFDF 2023 Fund Governance & Regulatory Insights Conference, Mar 9-10
  12. Irish Funds Boston Breakfast Seminar, March 15
  13. Irish Funds New York Seminar, March 16
  14. 2023 ICI Investment Management Conference, Mar 19-22
  15. FRA's Mastering Client Services and RFPs for Institutional Investors, Mar 20-21
  16. Crane Data's Bond Fund Symposium, Mar 23-24
  17. 2023 MMI Summit, Mar 29-30
  18. MFDF Director Discussion Series - Open Forum via Zoom, March 29
  19. 34th Sub-Advised Funds Forum, Apr 3-4
  20. MFDF webinar - Impact of Market Performance on 2022 Annual Investment Firm Profitability and Economies of Scale, April 5
  21. MFDF Regulatory Impacts on Fund Boards, April 20
  22. Morningstar Investment Conference 2023, Apr 25-27
  23. MFDF In Focus: Board Oversight Lessons from Former Fund Directors, May 9
  24. 2023 MMI Emerging Asset Managers Forum, May 11-12
  25. WE US - breakfast at InsideETFs, May 22
  26. MFDF Director Discussion Series - Open Forum (Columbus, OH), June 1

©All rights reserved to InvestmentWires, Inc. 1997-2023
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use