Other funds

Newton Growth and Income Fund for Charities

This fund has met all the board’s expectations across the FCA's seven assessment criteria. This included meeting its objective of producing capital growth and income, and delivering a return of more than its benchmark over the five to seven-year period ending 31 March 2021.

In our assessment, the fund has also provided a high quality of service to its investors via its investment manager and value-for-money from its service providers. Along with strong performance and a high quality of service, the cost to investors has been lower than other comparable peers (as determined by one of our external consultants).

Newton Sustainable Growth and Income Fund for Charities

Formerly Newton Growth Fund for Charities, the fund changed its name and investment approach in 2020 to include a sustainable policy and an objective to generate income. Investors voted for this change at an EGM.

We see that as a strong endorsement of client support of the new approach and is in keeping with broader industry shifts towards responsible investment.

Based on our analysis we believe this fund has provided good value over the assessment period. It achieved its stated performance aims, while also providing quality service at a lower price on average than its peers. We hope to ensure it continues to meet investors’ expectations.

Newton SRI Fund for Charities

This fund, the investor base of which is predominantly institutional investing on behalf of UK charities, has a socially responsible investment mandate. In our view, it has provided good value for investors across all seven of the FCA's criteria.

The fund has outperformed its benchmark over the longer term and at a lower cost than comparable funds. The quality of service provided and received by the fund has also been in line with expectations.

BNY Mellon (River and Mercantile) Global Equity Fund

Launched in January 2020, the fund has the objective to achieve capital growth over a period of at least seven years. Although there is not sufficient performance history to fully assess it versus its performance objective, other criteria assessed did score positively.

In addition, we note in the period since its launch the fund has achieved a positive return and broadly outperformed its benchmark. As such, we gave the fund an overall green rating.

The fund quickly achieved scale since its launch last year, which we anticipated when we structured the pricing. As such a lower fee was factored into its pricing from inception.