City Financial to acquire Iveagh's funds business

City Financial is to acquire Guinness family office Iveagh's funds arm in a deal that will see Chris Wyllie move to the boutique fund house, Investment Week can reveal.

The deal, subject to regulatory approval, will see Iveagh's £200m Dublin-domiciled UCITS business transfer to City Financial. Iveagh, which is still owned by the Guinness family, offers a range of retail funds, including the £116m Iveagh Wealth fund - a mirror of the strategy used to manage the family's money - as well as six risk-targeted core portfolios. CIO Wyllie and his team will transfer over to City Financial as part of the deal. "Iveagh and City Financial are delighted to confirm that they are entering into an arrangement to transfer Iveagh's Dublin domiciled UCITS business...