News Archive

City Financial Equity Income Fund
City Financial has proposed to rename the UK Select Alpha fund to 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 also 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. These changes will be designed to make the fund more efficient from a cost standpoint, to the benefit of investors.

Loudwater Investment Partners is led by the former Chairman of Panmure Gordon, Richard Wyatt. Loudwater plans on migrating the fund’s portfolio to focus on high dividend yielding UK equities.

City Financial MultiManager Income Fund
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.

Rob Hain, Chairman of City Financial, commented:
“As we close in on the £200 million mark of assets under management, 2009 has been a landmark year in the development and performance of City Financial. In the last three years, our largest fund, the Strategic Gilt Fund has seen its assets rise from £7 million to over £80 million and is the best performing fund in the IMA UK Gilts sector since its launch in December of 2006.

City Financial is committed to ensuring that investors’ funds are organised in a manner that is appropriate to the prevailing investment landscape. Therefore we have taken action to make a number of changes to our smaller funds that will counter increased cost pressures in the UK.

As we have demonstrated over the past three years, City Financial harnesses the proven skills of independent fund managers to deliver superior investment returns. We are confident that Loudwater will also establish an enviable track-record for the City Financial Equity Income Fund over the coming years.”