Fact sheet: CQS NewCityHighYldFdLtdOrd NPV

Fund information
Fund name
CQS New City High Yield Fund Limited Ord NPV
Fund manager company
New City Investment Managers
Fund type
Investment Trust
Fund managers
  • John Wongsince 31/05/2009
  • Keith Watsonsince 30/06/2013
  • Ian Francissince 01/11/2007
  • Rob Crayfourdsince 01/02/2012
  • Will Smithsince 01/11/2009
Fund objective
To provide investors with a high gross dividend yield and the potential for capital growth by mainly investing in high yielding fixed interest securities.
Benchmark
  • No Specified Index
Investment style
High Yield
Investment method
No data available.
Quick stats
1 Year return
10.3%
1 Year rank in sector
2/8
Sector
IT UK Equity & Bond Income
Yield
7.5%
Fund size
£211m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
78
Mid price
58
NAV
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
55.79
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
+4.41
Gearing
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
111
Top in this sector
Fund name1 Year
Jupiter Div & Gth11.1%
CQS NewCityHighYldFdLtdOrd NPV10.3%
Investors Cap Tst10.1%
M&G Hi Inc IT8.2%
City MerchantsHiYdTstLtd7.6%
...more in IT UK Equity & Bond Income

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.4%0.8%5.6%10.3%14.2%42.8%
Sector1%0.9%5.1%5.2%16%93.8%
Rank within sector6 / 84 / 85 / 82 / 86 / 88 / 8
Quartile3rd2nd3rd1st3rd4th
Calendar performance
 YTD - 20162015201420132012
Fund11.8%-6.2%6.8%3%24.2%
Sector4.3%11.1%-1.5%35.3%25.6%
Rank within sector1 / 88 / 83 / 88 / 84 / 8
Quartile1st4th2nd4th2nd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
2.01
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.45
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.03
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
9.05
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
9.26
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-0.08
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.14
Price movement
52 week high60.13
52 week low51
Current bid price58
Current offer price58.5
Current mid price58
Region
1International100%
Industry sector
1Fixed Interest81%
2Convertibles19%
Asset type
1Global Fixed Interest100%
Individual holdings
1UNIQUE PUB FINANCE CO 7.395% 28/03/20243%
2GALAXY FINCO LTD 7.875% BDS 15/11/21 GBP100000REG S2.8%
3REA FINANCE BV 8.75% GTD STLG NTS 31/08/20 GBP1000002.6%
4TRAFIGURA BEHEER 7.625% 29/10/2049 PERP CALL2.5%
5BARCLAYS BANK 7% 15/09/20192.4%
6BRIT PLC 6.625% SUB NTS 09/12/30 GBP500002.4%
7NEW RIVER RETAIL2.3%
8PARTNERSHIP LIFE ASSURANCE CO 9.5% GTD SUB NTS 24/03/25 GBP1000002.3%
9BALFOUR BEATTY 10.75%2.2%
Management
Fund manager group
New City Investment Managers
Fund manager company
New City Investment Managers
Fund type
Investment Trust
Fund objective
To provide investors with a high gross dividend yield and the potential for capital growth by mainly investing in high yielding fixed interest securities.
Benchmark
  • No Specified Index
Investment style
High Yield
Investment method
No data available.
Fund managers
NameSinceBiography
John Wong31/05/2009John is Senior Fund Manager for Golden Prospect Precious Metals and for Geiger Counter Limited. He is also an adviser to City Natural Resources High Yield Trust. Prior to joining CQS in 2008, John was an Investment Manager with Ruffer LLP. Before this, he worked at Friends Ivory & Sime and Rothschild Asset Management. He has seven years experience in the investment management industry. John is a Chartered Accountant and also a CFA charter holder. Prior to working in the Fund Management industry, he spent six years at PricewaterhouseCoopers, initially as an auditor and later as a management consultant.
Keith Watson30/06/2013Keith Watson is a co-Fund Manager for Geiger Counter and Golden Prospect Precious Metals. Keith joined CQS in July 2013 from Mirabaud Securities where he was a Senior Natural Resource Analyst. Prior to Mirabaud, Keith was Director of Mining Research at Evolution Securities. Previous to this, he was a top-ranked business services analyst at Dresdner Kleinwort Wasserstein, Commerzbank and Credit Suisse/BZW. Keith began his career in 1992 as a portfolio manager and research analyst at Scottish Amicable Investment Managers. Keith holds a BSc (Hons) in Applied Physics from Durham University.
Ian Francis01/11/2007Franco is Senior Fund Manager for New City High Yield Fund Limited. He also supports the portfolio management team for City Natural Resource High Yield Trust Plc. New City High Yield Fund in 2010 was winner of the Investment Week’s UK Income Investment Trust of the Year. Joined CQS in 2007 as part of CQS’ acquisition of New City and has more than twenty five years experience in trading and portfolio management. Prior to joining New City in 2007, Ian worked in a variety of roles in convertible bond trading and sales at firms including Collins Stewart Limited, where he was Head of Trading and Convertibles; West LB Panmure as Head of Convertibles, James Capel & Co. and Hoare Govett & Co. Began his career in fund management at Baring Bros. and Phillips & Drew.
Rob Crayfourd01/02/2012Rob is analyst and assistant portfolio manager to the New City managed resources funds. Prior to joining CQS in 2011, Rob was an analyst at the Universities Superannuation Scheme and HSBC Global Asset Management where he focussed on the resource sector. Rob is a CFA charterholder and holds a BSc in Geological Sciences from the University of Leeds.
Will Smith01/11/2009Will is Senior Fund Manager for City Natural Resources High Yield Trust. He is also adviser to New City High Yield Trust, Geiger Counter Limited, New City Energy Limited and Golden Prospect Precious Metals. Prior to joining CQS in 2008, he was responsible for running Landsbanki Securities Proprietary Trading with a focus on Global Resources. He has over thirty years investment experience with Panmure Gordon, UBS and Morgan Grenfell Securities.
Compliance
AIC Member
Domicile
No data available.
Fund for sale in
United Kingdom, Jersey, Offshore
CQS New City High Yield Fund Limited Ord NPV
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price55.28
CurrencyGBX
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNJEI
Data provided by

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