RCS - CQS New City HighYld - Annual Overview from QuotedData

CQS New City High Yield FundAnnouncement

20/06/2024 07:00

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RNS Number : 1328T  CQS New City High Yield Fund Ltd  20 June 2024

CQS New City High Yield Fund - Annual Overview from QuotedData

19(th) June 2024

Riding the wave of shifting interest rates

CQS New City High Yield Fund (NCYF) is consistently one of the
highest-dividend-yielding funds in its debt - loans and bonds peer group and,
over the longer term, is also one of its best-performing (see page 17). NCYF
has benefitted from an uplift in capital values as the headwind of higher
interest rates that weighed on bond valuations in 2022 and 2023 has turned
tailwind - a trend which its manager, Ian "Franco" Francis, thinks has further
to go.

NCYF looks the best-positioned of its peers to benefit from this, helped by
Franco's locking in of decent yields in advance of interest rate falls (see
page 7).

NCYF is conservatively managed with a strong emphasis on capital preservation.
The portfolio retains its high exposure to the UK. Ian feels the economy is
looking a lot healthier and the political outlook is improving. He sees some
challenges ahead, but thinks the UK is better placed to manage this turbulence
and that the sort of credits that NCYF focuses on will perform well in this
environment.

Full Research:

https://quoteddata.com/research/cqs-new-city-high-yield-fund-riding-wave-of-shifting-interest-rates-qd/
(https://quoteddata.com/research/cqs-new-city-high-yield-fund-riding-wave-of-shifting-interest-rates-qd/)

This research is also available free on our website www.quoteddata.com
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NB: Marten & Co was paid to produce this note on CQS New City High Yield
Fund Limited, and it is for information purposes only. It is not intended to
encourage the reader to deal in the security or securities mentioned in this
report. Please read the important information at the back of this note.
QuotedData is a trading name of Marten & Co Limited which is authorised
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Retail Clients under the rules of the Financial Conduct Authority.

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