New City Energy (NCE) is a specialist, actively-managed closed-ended fund investing in the energy sector. Performance has been weak with 2014 suffering from the sharp fall in the oil price (see page 5). The manager has increased the focus on dividend-paying, cash-generative companies with strong balance sheets and growth potential within the shale oil and gas sub-sector. This profile should allow NCE both to weather low oil prices and to capitalise on a potential recovery hinted at by trends in ...
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