Toogood and Hutchison join City Financial
Fund research experts recruited by firm in latest stage of business development
Firm will produce a wide range of solutions for advisers and institutions
City Financial Investment Company Limited (City Financial), the rapidly growing London-based independent fund manager, announces that Peter Toogood and Gill Hutchison are to join the firm on 1st October 2013.
The pair have a combined 35 years experience in fund research and consultancy. They recently left Morningstar OBSR where Peter was Investment Services Director and Gill was Head of Investment Consultancy.
City Financial recognises that the needs of advisors and institutions are evolving post-RDR. The appointments are the latest stage in the firm’s expansion of its multi-asset offering to provide enhanced support in an environment of increasing regulatory and competitive challenges.
Prior to joining Morningstar, Peter was CIO at Forsyth Partners where he was instrumental in the creation of the Forsyth-OBSR Fund Ratings Service in 2002. Gill has previously held roles at two private banking organisations in portfolio management and fund research while at Morningstar she was responsible for managing a range of services including guided fund lists, model portfolios and governance.
Peter and Gill bring their experience and expertise to an investment team that already includes Mark Harris, Head of Multi-Asset responsible for City Financial’s six multi-asset funds with a combined AUM of £136m* and Tim Short, who recently joined the firm as Chief Risk Officer to provide comprehensive risk oversight and input into the management of the multi-asset range. This team will also work closely with City Financial’s highly regarded Equity, Fixed Income and Alternatives investment groups.
Andrew Williams, Chief Executive Officer, City Financial, says: “As an independent fund manager we are in a position to adapt and evolve our service offering as the requirements of advisers and institutions change. We recognise that the future of fund management firms like our own lies in proving a complete, solutions based package of services, including fund research and consulting.
“These appointments emphasise City Financial’s strategy to recruit experienced and talented experts in their field, who are committed to create a pioneering service proposition without legacy issues or conflict of interests.”
Mark Harris, Head of Multi-Asset at City Financial says: “I have known Peter for twenty years and Gill for nearly as long and have the utmost respect for their success in developing research, management and consultancy practices, as well as their depth of expert knowledge. It is an absolute pleasure for me to now finally be working with them both and I look forward to our combined success.”
Peter Toogood says, “City Financial represents an excellent opportunity to extend the research and consulting services that Gill and I have developed together over many years. Mark, Gill and I have complementary skills which can be applied to enhance the rapidly growing multi-asset franchise at the firm”.
Gill Hutchison says, “Peter and I have worked together since 2003 and we are now joining a firm that recognises the opportunity to combine our skills with its own investment expertise. We look forward to providing a compelling proposition for City Financial’s growing customer base.”
* as at 30th August 2013
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.
The firm currently offers a range of six Multi-Asset funds:
City Financial Diversified Fund — IMA Mixed Investments 0-35% Shares
The investment objective of the fund is to deliver a total investment return over the longer term.
Current AUM as at 30th August 2013, £47.4m
City Financial MultiManager Income Fund — IMA Mixed Investments 20-60% Shares
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 30th August 2013, £12m
City Financial Global Multi Strategy Fund — IMA Mixed Investments 20-60% Shares
The investment objective of the fund is to achieve consistent long term capital growth and income by investing across a carefully selected portfolio of investment funds, exchange traded funds (ETFs) and direct securities.
Current AUM as at 30th August 2013, £23m
City Financial MultiManager Growth Fund — IMA Mixed Investments 40-85% Shares
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 30th August 2013, £32.5m
City Financial Dynamic Fund — IMA Flexible
The investment objective of the fund is to provide capital growth over the longer term.
Current AUM as at 30th August 2013, £15.6m
OPM Diversified Target Return Fund
The investment objective of the fund is to achieve a positive return in excess of the benchmark, being the Official Bank Rate set by the Bank of England plus 3% per annum, on a medium to long term basis with capital preservation being a major consideration.
Current AUM as at September 2013, £5.5m