News Archive

With the Bank of England’s rate cut ringing in our ears, I wanted to provide you with the market comment by one of our fund managers John Husselbee. We hope you find these thoughts helpful. – Andrew Williams, Chief Executive, City Financial



“‘Would you tell me, please, which way I ought to go from here?' Alice speaks to Cheshire Cat”

Alice in Wonderland continues…..
‘That depends a good deal on where you want to get to,' said the Cat. 
‘I don't much care where--' said Alice. 
‘Then it doesn't matter which way you go,' said the Cat. 
‘--so long as I get somewhere,' Alice added as an explanation. 
‘Oh, you're sure to do that,' said the Cat, `if you only walk long enough.' -- 

An Extract from ‘Alice in Wonderland’ by Lewis Carroll

You may recognise this passage from Alice in Wonderland; it was once quoted to me during a training day entitled “Strategy and Planning.” What followed was an in depth examination of the Chaos Theory, I will spare you the details!

The following is a part of the series of timely market comments by City Financial fund managers. We hope you find these thoughts helpful. – Andrew Williams, Chief Executive, City Financial

“Interest rates cut to 3%! …None of the 60 economists surveyed by Bloomberg News predicted the move” – Bloomberg

Last month we issued our market comment entitled “The King is dead. Long live the King” arguing that sharp cuts in UK base rates were inevitable and that investors needed to give serious consideration to the implications of rapidly falling returns on cash deposits. It has been demonstrated this week that the fear of recession is paramount to the Bank of England.

What does this mean?

In her discussion concerning the current economic woes investors are facing, Guardian columnist Heather Connon characterizes gilts as the "ultimate safe haven," asset class and specifically notes the "respectable" returns of the City Financial Strategic Gilt Fund.

The following is one in a series of timely market comments by City Financial fund managers. We hope you find these thoughts informative. – Andrew Williams, Chief Executive, City Financial

“If you can keep your head whilst all around are losing theirs…”

As far as I have been able to make out, one of the few benefits of getting older is experience. Having been around the track a few times does provide a different perspective on world events.

City Financial, the London-based asset management group, has signed an agreement with Standard Life Savings Ltd.

Money Management Magazine highlights City Financial in its survey of the Cautious Managed sector. In her article journalist Jo Dymock recognises the City Financial MultiManager Income Fund as the top performer over five years with returns of 19.4% AGR.

According to Ian Williams, manager of the City Financial Strategic Gilt Fund, the time for speculative consideration over a possible recession is past, and IFAs need to start focusing on solutions that will protect their investment portfolios as the UK heads into full-blown recession.

Speaking to Investment Week, John Husselbee explains the high-conviction approach that has lead the City Financial MultiManager Income Fund to be a cautious managed sector leader.

A new article in MoneyMarketing details the new City Financial website.

New platform designed in response to growing IFA demand

City Financial, the London-based asset management group, is pleased to announce the launch of its new website. The website has been redesigned in response to increased IFA interest to provide easier access to information about the company and its products, and can be found at cityfinancial.co.uk.

City Financial, the London-based asset management group, is pleased to announce that it has signed an agreement with Investment Funds Direct Limited to place its fund range on the Ascentric Wrap platform, the independent wrap service exclusively for IFAs and the Fundsdirect fund supermarket for consumers.

The current Citywire “Best Fund Managers”(1) league table shows that John Husselbee, manager of the City Financial MultiManager Income Fund, has exhibited exceptional consistency in the IMA Cautious Managed sector being ranked:

2nd over 5 years [out of 32 fund managers]
1st over 4 years [out of 43 fund managers]
3rd over 3 years [out of 54 fund managers] (2)

Appointment underlines City Financial’s commitment to independent advisers

City Financial Investment Company Limited (City Financial), is pleased to announce the appointment of Graham Hooper to the City Financial management team.

Graham will have joint responsibility with Patrick Cooper for continuing the rapid growth of City Financial’s funds distribution, through the independent financial advisory (IFA), multi manager and private wealth management communities.

City Financial is pleased to announce that its MultiManager Income Fund has been ranked the top performing fund in the Cautious Managed Sector over the last three years.*

City Financial is pleased to announce that its Strategic Gilt Fund has been ranked the best performing Gilt Fund in its sector for 2007*.

The City Financial Strategic Gilt Fund, managed by Ian Williams, was launched on 8 December 2006, with an innovative but tried and tested investment strategy. In order to enhance performance, the Fund uses options in addition to more traditional, some might say old-fashioned, investment techniques.

City Financial Investment Company Limited (City Financial) is pleased to announce that it has successfully completed the acquisition of two top performing multimanager funds from Neptune Investment Management Limited (Neptune), at the same time securing the services of the existing fund management team at North Investment Partners Limited (North).

Robert C. Hain, Chairman of City Financial Investment Company Limited, is pleased to announce that Richard Wyatt has joined the Board as an independent Director of the Company.

City Financial announces that from 31 May 2007:

• City Financial Liquidity Fund will become City Financial Strategic Gilt Fund
• City Financial UK Diversified Absolute Return Fund will become City Financial UK Select Alpha Fund

City Financial announces that the shareholders of CiF Funds have approved merger and mandate changes for its Fixed Interest and UK Equity Funds. The changes were made following the acquisition of the CiF Funds by City Financial from Foresters in a transaction that was completed earlier this year and the Financial Services Authority’s issue of new regulations allowing the utilisation of a wider range of investment tools by UK managers of collective funds. As a result, City Financial Investment Company Limited will be able to pursue its strategy of offering a family of innovative funds to UK investors and their advisers.

City Financial Investment Company Limited (City Financial), the UK investment management firm that provides a family of innovative funds to UK investors and their advisers, is pleased to announce the appointment of Charteris Treasury Portfolio Managers (Charteris) to manage its City Financial Gilt Fund and City Financial Liquidity Fund.

City Financial Investment Company Limited (City Financial) is pleased to announce the appointment of Mark Astley of Millennium Global Investments for its Strategic Global Bond Fund.

City Financial Investment Company Limited (City Financial), the UK investment management firm, is pleased to announce the appointment of John Husselbee of North Investment Partners for its Diversified Absolute Return Fund.

The Shareholders of City Financial Investment Funds have approved mandate changes for its Global Bond and Global Health Funds. The changes were made following the Financial Services Authority’s issue of new regulations allowing the utilisation of a wider range of investment tools by UK managers of collective funds. As a result, City Financial Investment Company Limited will be able to pursue its strategy of offering a family of innovative funds to UK investors and their advisers.

In a recent letter from Rob Hain, Chairman of City Financial Investment Company, investors in the company’s funds have been asked to vote for proposals which will:

• Enable the funds’ managers to offer innovative approaches to portfolio management that have only recently become available to individual investors in collective funds;

City Financial Investment Company Limited is pleased to announce that the City Financial Weekly Comments bulletin for financial advisers is now available on-line. This new service is part of City Financial’s commitment to providing timely and useful information about global economic trends to the investment community.

Robert C. Hain, Chairman of City Financial Investment Company Limited, is pleased to announce that John P (Jack) Hollihan has joined the Board as an independent Director of the Company.