The senior fund manager of the £141m City Natural Resources High Yield trust is stepping back from day-to-day management of the vehicle.
However, Richard Lockwood, who has managed the trust since 2003, will remain at New City Investment Management (NCIM) and will continue to contribute to strategy. Lockwood's co-manager Will Smith will now be joined on the portfolio by Merfyn Roberts. Roberts joined NCIM in 2006 and has over 26 years' investment experience focused on resources and energy. Lockwood says: "Will Smith and Merfyn Roberts are an integral part of the NCIM team and I am delighted that they are taking over at City Natural. "Continuity will be reinforced by my continuing strategic involvement, and I look ...
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