Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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
Play Video special: what Scottish DFMs think of SNP election flop

Video special: what Scottish DFMs think of SNP election flop

As delegates gathered for Citywire Scotland, we asked them their take on the election.

Play Keith Skeoch: 'passive has a part to play'

Keith Skeoch: 'passive has a part to play'

In the third part our series, Skeoch outlines his vision for Standard Aberdeen.

2 Comments Play Keith Skeoch: why I believe markets will make 'substantial returns'

Keith Skeoch: why I believe markets will make 'substantial returns'

In an exclusive interview, Standard Life CEO Keith Skeoch tells us why he takes an optimistic view on markets just about everywhere.

Read More
Your Business: Cover Star Club

Profile: Rathbones' fund boss on spotting emerging talent

1 Comment Profile: Rathbones' fund boss on spotting emerging talent

A great fund manager is really easy to spot, says Mike Webb, chief executive of Rathbones Unit Trust Management

Wealth Manager on Twitter