Newton Cautious Managed fund waives initial fee

The waiver follows BNY Mellon Asset Management's decision at the end of last year to cut the fund's AMC from 1.5% to 1.25%. Since assuming control of the fund, Nichols has repositioned the portfolio, which was called the Newton Equity & Bond fund until January 29. Its equity exposure has been limited to 60%, with at least 30% in fixed income and cash. Nichols says: "We believe that investing across the corporate capital structure and limiting our equity exposure to 60% of the fund, will provide an attractive prospect for the more cautious investor in a growth constrained environmen...