Asset Management
Fidelity Buys City Financial's UK Opportunities Fund
Fidelity has snapped the £70 million City Financial UK Opportunities Fund and is taking its manager Leigh Himsworth too.
Fidelity has
purchased the £70 million ($119 million) City Financial UK
Opportunities Fund, with its manager Leigh Himsworth in tow.
The fund has been managed by Himsworth, City's head of UK
equities, since 2011 and has returned 54.5 per cent compared to
the IMA UK All Companies sector average return of 46.9 per
cent.
"Leigh is a shrewd and experienced investor and we are confident
that the combination of his expertise and the substantial
research capabilities of Fidelity will prove to be a winning
combination for current clients and the many new investors who we
hope to attract into the fund,” said Dominic Rossi, global CIO
for Equities at Fidelity Worldwide Investment.
City Financial will retain Himsworth’s £10.6 million UK Income
Opportunities fund but it is unknown who will take over.
