Newton Investment Management, the London-based asset management firm owned by Mellon Financial, is growing private clients assets under mana...

Newton Investment Management, the London-based asset management firm owned by Mellon Financial, is growing private clients assets under management faster than institutional, according to its chief investment officer Jeff Munroe.

“Our client mix is changing. We have just under 50 per cent in institutional assets, the retail side is moving ahead and the private investment management side is growing, including our charity sector,” said Mr Munroe at Newton’s 2005 Institutional Investment Conference held in London.

“The business is shifting, and we are adapting business to new things that investors need as we shift from balanced to specialist.”

Newton’s assets under management have more than quadrupled since the early 1990s when it had just £4.3 billion ($7.7 billion) under management. It currently manages £25.5 billion of assets, and 70 per cent of its institutional assets are global.