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Mark Harris appointed manager of City Financial’s multi-asset funds

City Financial Investment Company Limited, the London-based independent fund manager, announces that Mark Harris has been appointed as manager of City Financial’s multi-asset funds with effect from 31 December 2012.

Mark will manage four funds with the aim of delivering optimal risk adjusted returns for clients across a wide range of assets: City Financial MultiManager Growth, City Financial MultiManager Income, City Financial Diversified and City Financial Dynamic. His appointment is part of City Financial’s strategy to develop its in-house asset management capability and expand its presence in the retail and institutional markets.

Mark was part of the Eden asset management team that joined City Financial in October 2012. He previously managed the CF Eden Global Multi-Strategy Fund and, prior to that, was head of multi-manager at New Star and Henderson Global Investors where he managed funds totalling £800 million, winning multiple industry awards for performance.

Ed Rosengarten, Head of UK Asset Management, City Financial, says:
“Mark is a top performing fund manager with a strong track record in the multi-asset space. Appointing Mark as the fund manager is a demonstration of our commitment to building our in-house asset management expertise. We start the new year excited by the prospect of attracting new clients to the funds under Mark’s stewardship.”

For further information, please contact:

Broadgate Mainland
Roland Cross, Anouchka Burton, or Alistair Scott
Telephone: 020 7726 6111
Email: cityfinancial@broadgatemainland.com

City Financial
Ed Rosengarten
Head of UK Asset Management
Telephone: +44 207 451 9600
Email: ed.rosengarten@cityfinancial.co.uk

About City Financial

City Financial is a growing London-based independent fund manager with experienced teams investing across a range of strategies for retail and institutional clients.  

Background information

Mark Harris’s awards for multi-manager investing include:

2010 – Investment Week Multi Manager

2009 – OBSR / Morningstar rated Funds (New Star Active Portfolio – AA, New Star Balanced Portfolio – AA, New Star Managed Portfolio – AA)

2008 – ‘A’ rated by Citywire

2008 – Professional Adviser - Best Multi Manager Group

2007 – Professional Adviser - Best International Multi Manager Fund, Best Multi Manager Group, Best Specialist Multi Manager Fund; Standard & Poors - 1st in Asset Allocation over 10 years; AA rated by Citywire

2006 – Lipper - Best Fund over 10 years - Mixed Asset Aggressive Global, Best Fund over three and five years Equity Global High UK, Best Multi Manager Group; Real Adviser - Best Multi Manager Group and Best Specialist Category

2005 – Real Adviser - Best Specialist Category; Lipper - Best Fund over three years

2004 – Financial Adviser – Gold Rating Multi Manager of the Year category; Standard & Poors - 1st over five years Global Neutral Sector

Mark Harris’s track record managing the CF Eden Global Multi-Strategy Fund from 31/12/2011 – 01/10/2012 was 7.9% as compared to the sector which was 6.14%. (Source: Morningstar)

Fund information

City Financial MultiManager Growth Fund
The investment objective of the fund is to achieve capital growth from investment, primarily, in a global spread of collective investment schemes, including open-ended investment companies and unit trusts as well as investment trusts.
Current AUM as at 31 December 2012, £34m

City Financial MultiManager Income Fund
The investment objective of the fund is to achieve an income in excess of the MSCI World Index, alongside the potential for capital growth from investment primarily in a global spread of collective investment schemes, including open-ended investment companies.
Current AUM as at 31 December 2012, £13m

City Financial Diversified Fund
The investment objective of the fund is to deliver a total investment return over the longer term.
Current AUM as at 31 December 2012, £46m

City Financial Dynamic Fund
The investment objective of the fund is to provide capital growth over the longer term.
Current AUM as at 31 December 2012, £15m

North Investment Partners, which previously provided investment management for these funds, continues to work with City Financial managing other mandates.