Newton Retained to Manage Financial Portfolio

Newton Investment Management has been reappointed to manage the Duchy of Lancaster’s financial portfolio for a further 3 years, following a full re-tender process.

The firm, which is the headquartered in London, is the global investment management subsidiary of investment bank BNY Mellon and provides a broad range of services to institutional investors, charities and corporations worldwide. As at 31st March 2017, Newton has assets of over £54 billion under management.

Commenting on the appointment, Chief Finance Officer of the Duchy Chris Adcock LVO said: “Although the majority of the Duchy’s assets are in land and property, we also maintain a small number of financial investments as part of our diversified portfolio. These take the form of equities, bonds and other investments. They are carefully managed to ensure a stable revenue stream and to safeguard the real capital value of the financial portfolio in the long term.

“We have developed an excellent working relationship with Newton over the years and are pleased to be able to continue to build on that partnership in the years ahead.”

Newton CEO Hanneke Smits added: “We have worked closely with the Duchy on its financial portfolio since 2004 and are delighted that the approach that we have taken and the results we have achieved warrant this appointment. We look forward to continuing our very good relationship with the Duchy and to helping to meet its financial objectives for the foreseeable future.”

The Duchy’s financial portfolio generally amounts to around 11 per cent of the estate’s total value and generates a similar proportion of the organisation’s annual income.