LONDON, 20 March 2014 – Newton Investment Management Limited (Newton), BNY Mellon's global thematic investment boutique today announced a change to the lead portfolio manager role on two pooled vehicles: Newton Higher Income Fund and Newton Oriental Fund.

Following a strategic review Newton has decided that lead portfolio management roles of its active equity and equity income pooled vehicles are most effective if kept distinct. Therefore, in line with the process Newton has adopted for the management of its Global Equity and Emerging Equity pooled vehicles, the company has decided to have separate lead managers on the Newton Higher Income Fund and Newton UK Equity Fund.

As a consequence, Christopher Metcalfe has been appointed as the new lead manager on the Newton Higher Income Fund. Metcalfe, the current manager of the Global Growth & Income Fund for Charities and the Newton Managed Fund has a strong track record of delivering investment performance for clients. Specifically, Metcalfe has delivered outperformance on the Newton Managed Fund with the Fund producing top quartile returns for investors over 3 years until end of February 2014*.

Metcalfe replaces Richard Wilmot who will continue to lead on the Newton UK Equity Fund. Wilmot will remain alternate portfolio manager on the Newton UK Opportunities Fund, with Paul Stephany continuing as the lead manager on this Fund.

Simon Pryke, Chief Investment Officer of Newton said, "The Newton Higher Income Fund is now structured as we envisaged following the change to the yield discipline in 2013 and under Christopher's new leadership on the fund, we believe that it is positioned to perform well. Christopher currently manages a range of portfolios with an income requirement and he has extensive experience in managing UK and global equity portfolios."

Further in line with the refocusing of the investment structure, Caroline Keen has been promoted to lead portfolio manager on the Newton Oriental Fund. Keen has been supporting Jason Pidcock as co fund manager on the Newton Oriental Fund since 2013 and has been an important member of Newton's Asian equities team since 2009.

Pryke added: "Since joining Newton in 2009, Caroline has become an integral member of our Asian Equities team. We are confident that by promoting Caroline to lead manager of the Newton Oriental Fund, our investors will benefit from her portfolio leadership.  Jason Pidcock will be the alternate portfolio manager."

Matt Oomen, Head of EMEA Intermediary Distribution at BNY Mellon Investment Management        , concluded: "Newton has developed a strong capability and reputation in equity income and active equity mandate investing, representing close to 50% of its firm-wide assets. The performance of its equity suite has remained strong overall with a positive track record in managing change. We are confident that going forward the Newton Higher Income Fund, the Newton UK Equity Fund and the Newton Oriental Fund will deliver attractive returns over the long term."

*Source: Lipper as at 28^th February 2014.

Newton is a London-based global asset management subsidiary of The Bank of New York Mellon Corporation and part of BNY Mellon. With assets under management of £51.7bn (as at 31 December 2013) including assets managed by Newton Investment Management Limited as dual officers of Newton Capital Management Limited and The Bank of New York Mellon, Newton's group of affiliated companies provides a broad range of award-winning investment products and services to individuals, pension funds, charities and corporations. News and other information about Newton is available at www.newton.co.uk or follow us on Twitter @NewtonIM.

BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with $1.6 trillion in assets under management. It encompasses BNY Mellon's affiliated investment management firms, wealth management services and global distribution companies. More information can be found at www.bnymellonim.com.

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of December 31, 2013, BNY Mellon had $27.6 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.

All information source BNY Mellon as of December 31, 2013. This press release is qualified for issuance in EMEA and is for information purposes only. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorized. This press release is issued by BNY Mellon Investment Management EMEA Limited (ex-US) to members of the financial press and media and the information contained herein should not be construed as investment advice. Past performance is not a guide to future performance. The value of investments and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements.  When you sell your investment you may get back less than you originally invested. Registered office of BNY Mellon Investment Management EMEA Limited: BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorized and regulated by the Financial Conduct Authority. A BNY Mellon Company.