“Conservative and boring”

In the words of its manager, Ian Francis, CQS New City High Yield Fund (NCYF) is “really conservative and boring”! However, NCYF offers a high yield and has beaten the consumer price index, Libor and the MSCI UK Index by significant margins over the last 10 years; all while providing low volatility returns. Furthermore, its premium rating(an average of 5.5% during the last year) and its ongoing share issuance (5.3% during the last year) suggest that investors are attracted to the fund. Ian is ab...