Agility + Acumen

We’re independent. We’re not owned by a bank. We’re not owned by an

insurance company. When we started four years ago we deliberately designed a

nimble company to bring to advisers and investors a straightforward series of funds

managed by individuals who we believe are masters of their craft.

A good fund manager, like any good craftsman is hard to find. Once found, City

Financial harnesses the proven skills of these individuals. Without legacy or

conflict of interests and without the distractions that a big company brings, the

managers are empowered to focus on creating something remarkable for our

investors and their advisers.

Ian Williams and M&G’s Richard Woolnough challenge the consensus in Investment Week

On the front page of this week’s Investment Week, the City Financial Strategic Gilt Fund Manager responds to bearish gilt market sentiment.

Highly regarded fixed income managers Richard Woolnough and Ian Williams have challenged the growing bearishness on the gilt market, believing the consensus view is exaggerating the long-term risks… the M&G manager [Mr Woolnough] says the UK has the chance to adjust to the crisis through fiscal stimulus, financial reform and a falling exchange rate.

However, the UK’s total outstanding gross debt stands at 68.7% of GDP, comparing favorably to the US at 84.8% and 78.7% for Germany. “The consensus is exaggerating the risks the UK gilt market faces.”

Top performing City Financial Strategic Gilt fund manager Ian Williams says as universal sentiment in markets is often wrong, there is a plausible case for owning UK Government debt in 2010.

“Rather than a surge in gilts, 2009 was characterised by a long and sustained rally in the equities markets. While this may have been simply coincidental to quantitative easing, it suggests that we should consider the possibility that a withdrawal of QE will have an equal, but opposite, effect. We could therefore see a retrenchment in equities and a much more stable gilt market than is currently built into most forecasts.”

The City Financial Strategic Gilt Fund is an actively managed portfolio of Gilts that aims to offer a superior risk adjusted return over that of passively holding a conventional gilt portfolio with similar characteristics.

Trustnet names John Husselbee a 2010 Alpha Manager

In recognition of consistent outperformance across a wide range of markets, Trustnet has named City Financial MultiManager fund manager, John Husselbee, a 2010 Alpha Manager. Mr Husselbee’s management of the City Financial MultiManager Income and MultiManager Growth funds delivered impressive 2009 returns of +24.99% and +27.56% respectively. Source: Lipper, 31.12.2008 – 31.12.2009

  • See John Husselbee's Trustnet profile here

With quantitative easing near its end, Ian Williams shares his view on 2010 with Bloomberg TV

Many investors are concerned about the impact that the end of quantitative easing may have on their portfolios. City Financial Strategic Gilt Fund manager, Ian Williams, discusses the forces likely to drive markets in 2010 and explains how the end of quantitative easing and the need for fiscal tightening could be supportive of the gilt market.


Morningstar awards City Financial Gilt Fund top Five Stars

Morningstar awards the City Financial Strategic Gilt Fund a top rating of Five Stars in recognition of its category leading performance. Since its launch three years ago, the Strategic Gilt Fund has delivered 18.94%, having been the top fund in its IMA peer group in 2007, 2009, and cumulatively for three years.

“Gilt fears may be wrong, says City Financial” Money Marketing

City Financial Strategic Gilt Fund Manager, Ian Williams, argues why stability is likely to characterise the gilt market in 2010. Speaking to Money Marketing, Mr Williams explains that the onset of quantitative easing caused only a slight fall in yields and was, at least, coincidental to the long rally in equities markets, and “we should consider the possibility that a withdrawal of quantitative easing will have an equal, but opposite, effect.”

  • Read Ian's comments here

UK crawls from recession, but, is the consensus wrong again? asks Strategic Gilt Fund manager, Ian Williams

Recent headlines trumpeting the “end” of recession seem to be generating all the usual clamour. As a result, investors find themselves once again unsure of the direction of markets. With an election looming, quantitative easing ending, and fiscal tightening inevitable, there are a complex confluence of factors acting on the gilt market. Ian Williams, manager of the category-leading City Financial Strategic Gilt Fund, explains his outlook for 2010.

The Strategic Gilt Fund delivers strong returns despite a tough year for many others

As the City Financial Strategic Gilt Fund approaches its third anniversary, it continues to lead the IMA UK Gilt Sector. Fund manager, Ian Williams, tells CNBC that many in the sector never recovered from losses sustained in January and February of 2009, a period during which the Strategic Gilt Fund continued to grow. Mr Williams also provides perspective on quantitative easing and the future of sterling.

John Husselbee's market minute

With many openly questioning the sustainability of the market rally that has characterised much of 2009, John Husselbee, manager of the City Financial MultiManager Range, takes a “back to basics” lens to today’s markets.

Following £25bn of QE, Ian Williams speaks to Bloomberg TV about potential gilt rally

In the wake of the Bank of England’s announcement of more quantitative easing on 5 November, City Financial Strategic Gilt fund manager Ian Williams tells Bloomberg News that the gilt market may be oversold and positioned for a minor rally. Mr. Williams also offers an honest appraisal of UK economic health and recovery.


City Financial Investment Company makes a number of changes to its smaller funds to improve performance and efficiency

City Financial has propsed to rename the UK Select Alpha fund to become the City Financial Equity Income fund. In addition, the fund has increased in size from ~£4.5 million to ~£10.0 million through the injection of ~£5.5 million of additional investor capital. It is proposed that the fund will move from the IMA UK All Companies sector to the IMA UK Equity Income sector. City Financial has appointed Loudwater Investment Partners to manage the fund. Loudwater is led by the former chairman of Panmure Gordon, Richard Wyatt and plans on migrating the fund’s portfolio to focus on high-dividend yielding UK equities. These changes will be designed to make the fund more efficient from a cost standpoint, to the benefit of investors.

On 27 November 2009, shareholders in the City Financial Diversified Absolute Return Fund voted in favour of consolidating its similarly-managed assets into the City Financial MultiManager Income Fund, managed by John Husselbee. This fund is in the top quartile of the IMA Cautious Managed Sector for 2009 year to date. The continuing fund will have over £20 million of assets and therefore represents a more efficient manner for investors to gain access to John Husselbee’s proven multi-asset investment capability.

Strategic Gilt fund manager Ian Williams predicts lower UK interest rates and more quantitative easing

Due to its strong top decile performance and upcoming three-year anniversary, Ian Williams spoke this morning with Bloomberg TV sharing his views on interest rates, quantitative easing, UK monetary and fiscal policy as well as budget cuts. (Source: Lipper, 8 December 2006 – 26 October 2009)

Please note: This performance graph should replace the incorrect one that appears at 0:56 minutes into the clip.


FT Adviser highlights expansion at City Financial with new IFA relationship manager

On the back of growing demand from the IFA community, City Financial has expanded its sales capacity with a dedicated IFA relationship manager. Dan Lincoln joins City Financial with extensive experience in the fund management industry that will enable City Financial to better serve the IFA community.

City Financial Strategic Gilt Fund makes timely switch into conventional gilts

Bloomberg News highlights the City Financial Strategic Gilt Fund’s well-timed switch to an overweight bias for conventional gilts, from a similarly overweight position in index-linked gilts. Fund manager Ian Williams explains, “when we sold our index-linked bonds three weeks ago, it was a relative-value play because we thought we squeezed as much juice out of this particular lemon in the short term.” Merrill Lynch’s UK Gilts Inflation-Linked Index’s returned 7% between October 2008 and mid-July 2009.

Market minute with Ian Williams

The manager of the City Financial Strategic Gilt Fund gives his reaction to the Bank of England's quantitative easing program extension to a total of 175 billion pounds.

Market minute with Ian Williams

Writing to advisers, Ian Williams, manager of the City Financial Strategic Gilt Fund, explains his belief that the primary driver behind gilt market behaviour will be equity markets for the balance of summer and into Q4.

Hargreaves Lansdown selects the City Financial Strategic Gilt Fund for its Wealth 150

Mark Dampier of Hargreaves Lansdown has selected the City Financial Strategic Gilt Fund to be included in his Wealth 150, what his team believes to "be the best funds across all major sectors." Further information about the City Financial Strategic Gilt Fund is available here and on the Hargreaves Lansdown website.

"For a fund to be included in the Wealth 150 it must go through a rigorous selection process. Our 10 strong research team use complex mathematical models and meet hundreds of fund managers a year," says Mr Dampier on the Hargreaves Lansdown website.

Professional Adviser Hot 100 Funds

In the 23rd July 2009 edition of Professional Adviser, the City Financial Strategic Gilt Fund takes the number two spot in the Hot 100.

  • Professional Adviser's website is here

Strategic Gilt Fund manager profiled by Fund Strategy

Fund Strategy highlights the rapid growth in the size of the City Financial Strategic Gilt Fund managed by Ian Williams. “Nearly 100% of his portfolio is exposed to index-linked bonds and it seems investors share his view on the fixed interest market. Since November the fund size has increased from £25m to £60m today,” says the article.

“The small firm that uses diversity to punch well above its weight”

Speaking to Investment Adviser’s Nick Rice, City Financial Chief Executive Andrew Williams highlights the advantages a multi-boutique fund company can offer investors. In particular, the City Financial Strategic Gilt Fund employs best available fund management to tap the expertise of fund manager Ian Williams whose innovative management has lead the Fund to be a consistent sector leader.

Mark Dampier of Hargreaves Lansdown cites City Financial Strategic Gilt Fund in the Sunday Times

In an article discussing the ongoing inflation vs. deflation debate in the Sunday Times, Hargreaves Lansdown’s Mark Dampier cites his investment in the City Financial Strategic Gilt Fund. For those investors uncertain about the future, the Strategic Gilt Fund, which can seamlessly move between inflation-hedging index-linked gilts and conventional gilts, is a natural and necessary part of any long-term investment portfolio.