Raj Shant is to take over as lead manager on the Newton European Higher Income fund following the departure of Fred Moore.
Moore is said to be leaving Newton “to pursue business interests outside of the investment management industry”.
Shant is currently lead manager for Newton’s continental European strategy, having joined the firm in 2002.
Tom Beevers is set to remain alternate manager on the fund.
Shant says: “In the current climate of low bond yields and zero interest rates for cash on deposit, we believe European equities are an attractive opportunity.
“With a wide range of world class companies offering higher dividend yields than they pay on their own corporate bonds and higher than the yields available on their governments’ bonds European equities are a compelling income opportunity.
He adds: “Investors seeking income should look to funds able to generate strong yields from a balanced portfolio.”