Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Veritas hires former co-manager of £5.3bn Newton income fund

Veritas hires former co-manager of £5.3bn Newton income fund

A boutique asset management firm set up by a group of Newton alumni has poached a fund manager from its old firm. 

Wealth Manager understands Ian Clark is to become a partner of Veritas Asset Management at the end of August after he sees out notice period at the BNY Mellon subsidiary.

Up until last month, Clark was the co-lead manager on the £5.3 billion Newton Global Income fund alongside Nick Clay.

Veritas refused to comment or to confirm that Clark was joining the business.

While his role at the firm is not clear, it is likely he has been brought in to help revive Veritas' own global equity income fund, managed by Charles Richardson and Andy Headley

The fund has struggled over the past five years, returning 38.8%, underperforming the peer group average of 47.3%. 

In contrast, Newton Global Income returned 56.1% during this period.

Veritas was co-founded by Newton founder Stewart Newton and Richardson, who served as chief investment officer at Newton, in 2003.  

 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Andy Headley
Andy Headley
88/481 in Equity - Global (Performance over 3 years) Average Total Return: 38.99%
Charles Richardson
Charles Richardson
65/481 in Equity - Global (Performance over 3 years) Average Total Return: 41.00%
Nick Clay
Nick Clay
16/91 in Equity - Global Equity Income (Performance over 3 years) Average Total Return: 34.63%
Ian Clark
Ian Clark
Citywire TV
Play Hugh Young: the buck stops with me on Asia recovery

Hugh Young: the buck stops with me on Asia recovery

The Veteran Asia Pacific fund manager discusses how he is going to improve the performance of Aberdeen Standard Asia Focus and the other investment trusts run by his team.

Play Tim Steer: fund managers will have to get 'stuck in'

Tim Steer: fund managers will have to get 'stuck in'

The second part of our film with former Artemis and New Star fund manager Tim Steer looks at how his profession has evolved over the past two decades.

2 Comments Play Tim Steer: how to spot a stock disaster coming

Tim Steer: how to spot a stock disaster coming

The former Citywire AAA-rated fund manager has written a book on 22 stock disasters and how forensic examination of annual reports could have spotted them coming.

Read More
Your Business: Cover Star Club

Coverstar club: wealth managers we grilled in 2018 - part 1

Coverstar club: wealth managers we grilled in 2018 - part 1

We featured more than 60 wealth managers from the length and breadth of the UK on our cover last year

Wealth Manager on Twitter