Newton was formed in 1978 when Stewart Newton set up a joint venture company with Reed Stenhouse, the Scottish insurance broker. Following Alexander & Alexander’s acquisition of the company in 1986 the company was reorganised 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 with Mellon Financial Corporation (Mellon) for Mellon 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 the acquisition of the Newton Group.
Mellon is a global financial services company headquartered in Pittsburgh, USA. Founded in 1869, Mellon is one of the world's leading providers of asset management, trust, custody and benefits consulting services and offers a comprehensive array of banking services for corporations. Mellon has £1.8 trillion ($2.9 trillion, €2.7 trillion) in assets under management, administration or custody, including £361 billion ($581 billion, €553 billion) under management.
Newton is Mellon’s first substantial acquisition outside the US. The acquisition provided Mellon with immediate proven international investment expertise and a platform for market entry into Europe. For Newton, the deal provided the financial resources to expand, but most importantly, without compromising Newton’s global thematic approach to investment.
In the UK, the Newton name will continue to be used, whilst in the rest of the world (ex-USA) all investment products will be distributed under the umbrella brand of Mellon Global Investments (“MGI”). The company currently manages £18.7 billion ($30.0 billion, €28.6 billion) in assets under management.
(All data as at 31 December 2002.)
Provided by Newton Fund Managers Limited, March 2003
| Initial Sales Charge | Our Discount | Exceptions |
|---|---|---|
| Up to 4.00% | Up to 2.75% | - |
Key Features Document
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