City Financial - Multi Asset Discretionary Fund Management

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London based discretionary fund management firm controls assets in excess of GBP 1billion

Rob Hain , formerly CEO of Invesco Perpetual in the UK and Invesco Trimark in Canada and Andrew Williams , former Head Of Distribution at the same firms, aquired City Financial in January 2006 to create a new business offering a highly differentiated client proposition for investors. City Financial then acquired Foresters in October 2006 and the Neptune MultiManager business in October 2007.

In December 2010, City Financial acquired the rights to the pH Investment Portfolio from UnizoneFinancial Solutions Limited and in August 2012 the Company completed the acquisition of the CF Octopus Investment Funds.

On 1 October 2012, City Financial completed a further two transactions, with PCE Investors Limited and Eden Financial Limited, expanding its offshore specialist fund range and UK asset management capabilities.

Mark Harris
Head Of Multi-Asset

March and April of 2013 saw the completion of two further acquisitions: True Bearing Limited and OPM Fund Management Limited.

In April 2014 City Financial also purchased the Guinness Family owned investment company Iveagh for a sum of GBP 160m

City Financial’s investment philosophy is demonstrated in actively managed investment strategies including the purchase of fund management businesses, creating value from cost and revenue synergies and capital market trends.

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City financial wealth fund

The City Financial Wealth Fund allows investors to benefit from the in-depth macroeconomic research that underpins the multi-asset investment process.

The fund provides access to a diversified range of asset classes and is designed to be a core long-term holding for investors. This approach aims to achieve capital growth through a long-term strategic asset allocation framework.

Watch Mark Harris discuss the latest fund development in our video updates

City financial's adventurous fund portfolio

The City Financial Adventurous Portfolio seeks to achieve capital growth by investing in a diversified range of asset classes. A fixed strategic asset allocation is augmented by the team's established macroeconomic and fund analysis expertise.

The investment team

City Financials Multi Asset Team brings together experts at macroeconomic research, fund management and fund analysis. Their range of experience and expertise, set the team apart from their peers. Mark Harris, Head of the Multi Asset team, has managed the Fund since 31 May 2014. He previously managed over £1 billion in assets at New Star Asset Management (subsequently Henderson), gaining recognition through a range of industry awards and ratings.

 

Investment philosophy

The manager aims to deliver attractive risk-adjusted returns over the long term while delivering a risk profile that is appropriate for adventurous investors. He has developed an approach that combines the development of top-down asset preferences with a rigorous fund selection process. The Fund is managed with reference to a long-term strategic asset allocation, which is designed to meet the risk requirements of adventurous investors and is categorised by Distribution Technology, a third-party risk profiling consultancy accordingly.

If you would like to learn more about discretionary fund management click here.

Other Discretionary Fund Managers that we highly recommend include TAM International & Momentum Harmony

 

The city financial investment team

Rob Hain

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Formerly CEO of Invesco Perpetual, one of the UK's largest investment managers, and Andrew Williams who held a number of senior positions at the same firm, formed a partnership to acquire and re-invigorate smaller fund businesses and to develop and launch innovative funds for individual investors.

The partners' first acquisition was of long established fund manager City Financial Investment Company in 2006.

Later in the year the company acquired the UK retail fund management business of Foresters, an international insurance company.

In 2007 Neptune Investment Management's multi manager fund business was also acquired, making it the company's third acquisition in just 21 months.

City Financial is now the authorised corporate director of a UK open-ended investment company and an authorised unit trust manager regulated by the Financial Services Authority.

"Through this, we worked to make what can be complicated and sometimes intimidating as simple as possible.

Recognising the need for straightforward investment solutions, we specifically designed the business with an uncomplicated, fresh and flexible approach, attracting along the way some of the most experienced professionals around to manage the innovative funds we offer."

Andrew Williams

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Chief Executive Andrew Williams has headed the fund distribution arms of several investment companies including Invesco Perpetual in the UK and AIM Trimark in Canada during periods of considerable growth.

In addition, he led the post merger integration of a large and complex fund management business while retaining the firm's momentum.

He is a graduate of Trinity College at the University of Toronto and also obtained an MBA at the Rotman Management School and a degree in Economics and Chinese which involved study at Nankai University in Tianjin, China.

Andrew holds the Chartered Financial Analyst designation.

David Crawford

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David manages the City Financial Absolute Equity Fund. With more than 13 years of investment experience, David joined City Financial in September 2012 having previously worked at Octopus Investments, Hermes Investment Management and M&G Investments.

In March 2008 whilst at Octopus, David launched the fund that is now called the City Financial Absolute Equity Fund. This fund has returned over 90% since launch which compares to a total return from the FTSE All-Share of 35.7%.

Whilst at Hermes he co-managed a £500m UK smaller companies portfolio which significantly outperformed the FTSE Small-Cap and AIM benchmark.

Graham Glass

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Graham was appointed as fund manager for the City Financial Defensive Global Bond Fund in January 2012. He has 20 years experience as a fixed income portfolio manager.

Over this time he has had responsibility for a number of multi-duration, multi-currency and credit mandates.

Graham worked at Generali Worldwide in 1997 where he managed a number of mandates totalling $1bn in multi-currency, multi duration, and credit portfolios.

In 2002 he moved to Generali Finances and led the team managing a total mandate of $30bn, multi-duration, derivatives, credit portfolios until 2005, when Graham joined Norges Bank to be a senior portfolio manager in the Alpha Credit trading team.

From 2007 he was at UBS Asset Management where he led the global index credit team managing central bank clients', multi-national pension plans.

Mark Harris

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Mark Harris leads City Financial's multi-asset capabilities.

Mark was head of 'fund of funds' at New Star Asset Management and subsequently at Henderson Global Investors.

He personally managed 8 award-winning funds totalling £800 million, encompassing a range of low- to high-risk mandates.

Prior to joining City Financial, Mark was at Eden Financial, where he managed the CF Eden Global Multi Strategy Fund and played a leading role in developing Eden's client-focused, multi-asset products.

Mark has received numerous multi-manager awards throughout his career and has managed several OBSR and Morningstar rated funds.

Further resources

Market Indicator - Momentum fund management provide insightful views on their belief of market direction
Video Updates - Watch and listen to our Discretionary Fund Manager (DFM) partner videos. The videos provide an insight to the managers thoughts and feelings in respect of market events alongside specific details on portfolio performance
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