Battered City Financial suspends equity fund

Follows notice to appoint administrator

Jayna Rana
clock
City Financial has suspended trading in its £180m Absolute Equity fund following a string of redemptions, PA's sister title Investment Week understands
Image:

City Financial has suspended trading in its £180m Absolute Equity fund following a string of redemptions, PA's sister title Investment Week understands

City Financial has suspended trading in its £180m Absolute Equity fund following a string of redemptions, PA's sister title Investment Week understands.

According to reports, Robert Hain, chief executive of the failing hedge fund firm said it was in shareholder's best interests to suspend dealing in the City Financial Absolute Equity fund. He sa...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Companies

M&G Recovery and M&G Absolute Return Bond funds were rated unsatisfactory

Two thirds of M&G AUM fails to meet performance expectations

95.8% deemed to deliver value overall

Elliot Gulliver-Needham
clock 01 August 2022 • 1 min read
Kingswood acquires Hampshire IFA in sixth deal of the year

Kingswood acquires Hampshire IFA in sixth deal of the year

‘Reinforces our presence in Hampshire’

clock 01 August 2022 • 2 min read
Andrew Formica will step down as CEO in October, with CIO Matthew Beesley taking over.

Jupiter's AUM drops by 19% as investors pull £3.6bn and performance declines

‘Disappointing’ results, says Formica

clock 29 July 2022 • 3 min read