Newton Investment Management, the UK fund arm of US financial services firm Mellon Financial, has lost fund manager Ezra Sun, from its Asian equities team just a month after the departure of Clive Beagles, former fund manager of the firm's £1.5bn (€2.3bn) higher income fund.

Jeff Munroe, chief investment officer at Newton, will continue to help run the Asian portfolios, which have assets of £600m (€889m), but plans to announce a permanent replacement for Sun in the near future. Munroe said the firm is fully committed to the region.