City Financial to merge and rename funds in Mark Harris’ £130m multi-asset range
City Financial Strategic Global Bond Fund also renamed
Firm fixes expenses structure of funds
City Financial Investment Company Limited (City Financial), the rapidly growing London-based investment firm, is merging the City Financial MultiManager Income Fund with the City Financial Global Multi-Strategy Fund, subject to unit holder approval. The merger would create the £35m City Financial Multi Asset Balanced fund, managed by head of multi asset, Mark Harris.
The City Financial Strategic Global Bond Fund is being renamed the City Financial Defensive Global Bond Fund with a refined objective to better reflect the strategy to deliver consistent returns with low volatility. The fund has £90m assets under management and is managed by Graham Glass.
The investment objective of both funds has been revised to provide greater clarity about their risk and return profiles. These refined investment policies aim to improve the prospects of generating superior risk-adjusted returns.
At the same time City Financial is changing the treatment of its operating expenses from variable to fixed costs in line with FCA policy and guidance, launching new share classes, and reclassifying its existing share classes to ensure consistency across the entire fund range.
Ed Rosengarten, Head of UK Asset Management, at City Financial says: “City Financial is committed to delivering expertly managed and scalable investment solutions to our clients. Part of this strategy involves continually assessing the fund range to ensure we continue to offer a compelling proposition to investors.
“The name changes and refined objectives of the City Financial Global Multi-Strategy Fund and City Financial Strategic Global Bond Fund will provide clarity, better reflecting each fund’s true nature and ensuring consistency across our fund range.”
For further information, please contact:
Lauren Willington and Katie Jordan
Telephone: 020 7726 6111