Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

City Financial to buy Iveagh funds business

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 or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Foster: the world’s most unconventional monetary policies

Brewin's Foster: the world’s most unconventional monetary policies

In this week's podcast, Guy Foster asks why the world’s biggest economies are pursuing some of the world’s most unconventional monetary policies. 

Play Charles Tan on Woodford & hidden trust income gems

Charles Tan on Woodford & hidden trust income gems

Cantor Fitzgerald investment company analyst Charles Tan discusses Woodford Patient Capital and some of the income trusts slipping under the radar.  

Play Taxicab Tenner: SGPB Hambros CIO Eric Verleyen

Taxicab Tenner: SGPB Hambros CIO Eric Verleyen

In the second episode of our new series, Verleyen jumps on board a black cab and explains how hard it's become to find good valuation on the market.  

Wealth Manager on Twitter