Christan, Ollie and Tim gets around 350 bhp with deep pockets out of 1.6 CVH's

Newman cams are highly rated by most RS Turbo owners.

With regards to power it would depend upon how much boost you wished to run and a number of other things but you could get a great engine with your budget imho. The management choice I would suggest depends upon who you wish to map your car as I would always use what they are most experienced with rather than focus on specific brands or makes..... The rest of your budget depends upon how much work you wished to do yourself.

Ignore the fanboys who rattle on about one type of management over another and take the advise of the person you trust to map the car... great management is no good without a equally as great mapper and no matter what people say, experience and knowledge does matter