Mon, 02/06/2014 - 14:15
London-based independent fund manager City Financial Investment Company has acquired Iveagh Limited’s Irish domiciled UCITS fund business.
The acquisition sees the transfer of Iveagh’s UCITS fund range, which includes the GBP116m Iveagh Wealth fund and a range of six risk-profiled funds, totalling GBP160m in assets.
The deal provides City Financial the opportunity to develop an Irish-domiciled open-ended fund range, in addition to its existing UK and Cayman domiciled ranges.
The multi asset team at City Financial, led by Mark Harris (pictured), will manage the funds.
Andrew Williams, chief executive, City Financial, says: “This deal is in line with City Financial’s strategy to provide compelling investment solutions to our clients and continue to grow the firm.”
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