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City Financial has stars in its eyes

City Financial’s multi-asset multi-manager funds have invested in two new boutique funds from PSigma Asset Management and Asian hedge fund specialist Coupland Cardiff on the strength of the managers’ track records with bigger investment groups.

The diversified absolute return fund holds Coupland Cardiff Japan alpha while the UK diversified absolute return fund invests in PSigma income. Both City Financial funds are managed by Neptune’s multi-manager subsidiary North Investment Partners, headed by John Husselbee.

Former JPMorgan managing director Jonathan Dobson, who ran various JPMorgan funds from Tokyo and London, manages the Coupland Cardiff portfolio as a stockpicking fund.

The PSigma income fund, managed by former Credit Suisse star manager Bill Mott, invests across the market-cap spectrum with an initial bias towards big and medium-sized companies.

Husselbee says: “Most boutiques can trace their roots to a big investment manager. In Coupland Cardiff’s case, it is Flemings or JPMorgan Fleming. Angus Coupland used to run Asian funds there and Richard Cardiff was a London-based marketer for the company. They took on Jonathan Dobson to launch the new fund, which I think passed the $120m mark at launch.

“With the Psigma fund, the story is the income sector. There are half a dozen or so major players in this sector but Bill is involved in managing a £150m portfolio. It is a far easier job than running £3bn to £4bn and the other advantage is that he does not have to manage other people.”

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