Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a744879

City Financial to buy Iveagh funds business

by Danielle Levy on Apr 04, 2014 at 14:06

City Financial to buy Iveagh funds business

City Financial is set to acquire Iveagh's funds business.

Iveagh's CIO and investment team will move over as part of the deal to run Iveagh's multi-asset funds business, worth just under £200 million, which will transfer over.

The deal, which is subject to regulatory approval, follows City's acquisition of OPM Fund Management last year, as revealed by Wealth Manager, alongside that of Eden Financial the previous year.

The investment team, including former Wealth Manager cover star Wyllie (pictured) will move over once the deal completes.

Richard Ford, CEO of Iveagh, commented: 'Iveagh and City Financial are delighted to confirm that they are entering into an arrangement to transfer Iveagh's Dublin-domiciled Ucits business to City Financial. Investors in the funds should be reassured that the investment team will remain headed by Chris Wyllie and the Guinness family will remain invested in the funds.'

Iveagh's flagship Wealth fund posted a 6.2% return over the past three years versus a 10.7% rise by the Mixed Assets - Absolute Return Sector average.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Investing for income in a changing environment


With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet