Fact sheet: New City Energy

Fund information
Fund name
New City Energy Ord
Fund manager company
New City Investment Managers
Fund type
Investment Trust
Fund managers
  • Keith Watsonsince 01/01/2014
  • Ian Francissince 11/11/2011
  • Richard Lockwoodsince 11/02/2008
  • Rob Crayfourdsince 01/02/2012
  • Will Smithsince 01/11/2011
Fund objective
To provide attractive returns to shareholders principally in the form of capital growth yet with some prospect of income.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Shares
Quick stats
1 Year return
17.3%
1 Year rank in sector
9/10
Sector
IT Commodities & Nat Resources
Yield
7.6%
Fund size
£7m
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.
202
Mid price
13.125
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.
16.47
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.
-20.31
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.
103
Top in this sector
Fund name1 Year
Gldn Prospect Precs Mt90.5%
BlackRock World Mining IT78.5%
Riverstone Energy Ltd Ord NPV61.8%
Baker Steel Res Tst61.2%
BlackRock Com Inc IT52.4%
...more in IT Commodities & Nat Resources

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.9%-7.9%18.7%17.3%-48.2%-62.6%
Sector-4.3%0.9%26.9%49.6%-27.1%-58%
Rank within sector5 / 107 / 107 / 109 / 109 / 95 / 8
Quartile2nd3rd3rd4th4th3rd
Calendar performance
 YTD - 20162015201420132012
Fund11.6%-35.3%-32.3%-14.9%-11.1%
Sector53.3%-39%-21.5%-32.7%-8.4%
Rank within sector9 / 106 / 108 / 93 / 84 / 8
Quartile4th3rd4th2nd2nd
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.
-10.74
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.
0.85
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.
-0.06
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%.
26.21
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.
19.61
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.
-0.56
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.
0.44
Price movement
52 week high14.88
52 week low10.75
Current bid price12.25
Current offer price14
Current mid price13.13
Region
No data available.
Industry sector
No data available.
Asset type
1Commodity & Energy100%
Individual holdings
1PIONEER NATURAL RESOURCES CO8.3%
2OCCIDENTAL PETROLEUM CORP7.8%
3PARSLEY ENERGY INC7.5%
4TRAFIGURA BEHEER 7.625%6.4%
5BW LPG LTD6%
6DEVON ENERGY CORP5.9%
7REA HOLDINGS 9%5.1%
8CANADIAN ENERGY SVCS & TECH CORP4.9%
9CONCHO RESOURCES INC4.9%
Management
Fund manager group
New City Investment Managers
Fund manager company
New City Investment Managers
Fund type
Investment Trust
Fund objective
To provide attractive returns to shareholders principally in the form of capital growth yet with some prospect of income.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Shares
Fund managers
NameSinceBiography
Keith Watson01/01/2014Keith 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 Francis11/11/2011Franco 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.
Richard Lockwood11/02/2008Richard acts as a Consultant in a strategic role to all NCIM funds. Richard established NCIM in October 2003 and since 2007,when the company was acquired by CQS, until Sept 2010, he was the Senior Fund Manager for City Natural Resources High Yield Trust, New City High Yield Fund and Geiger Counter Limited. City Natural Resources High Yield Trust in 2009 was winner of the Investment Week’s investment trust of the year for best specialist trust and also won the award for the same category in the Investment Trusts magazine. Richard was the founding director of City Merchant’s High Yield Trust which was awarded best UK High Income Trust in both 2001 and 2002 by Investment Trusts magazine. Richard has fifty years experience in mining investment primarily with Hoare Govett,in London and Australia ,and with AMVESCAP in London.
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 Smith01/11/2011Will 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
New City Energy Ord
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 price16.47
CurrencyGBX
Price updated01/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNJJK
New City Energy Subs
Initial charge-
Annual charge2%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price0.01
Offer price0.25
Mid price0.13
CurrencyGBX
Price updated05/02/2014
Type-
Institutional or retail classRetail
Domicile-
Citi codeBAB9
Data provided by

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