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.”