Upon taking over OPM’s fund last April, Yousefian was brought in to work in Mark Harris’ multi-asset team, continuing his responsibility for the EFA OPM Fixed Interest Fund and also taking on the £10m EFA OPM Property Fund.
The £32m OPM Fixed Interest fund is to be merged into the City Financial Diversified Fixed Interest Fund, which launched in January.
The combined fund will be actively managed by Mark Harris, supported by other members of the multi-asset team.
A spokesman for City Financial said: “Mark draws on the expertise of our global fixed income managers including Graham Glass in Guernsey and John Sullivan, Sebastian Ashton and Wolfgang Felix in London to ensure that the firm continues to meet the expectations of investors and advisers.”
Glass runs the £98.3m Defensive Global Bond fund and the team is also supported by asset allocation and selection advice from Peter Toogood, Gill Hutchison and Anthony McDonald. Tim Short brings the risk management expertise.
Parted ways
It is understood that Yousefian and City Financial failed to reach an agreement and agreed to part ways.
Harris will continue to run the EFA OPM Worldwide Opportunities Fund and Diversified Target Return Fund. Leigh Himsworth retains responsibility for the OPM UK Equity Fund and Equity High Income Fund.
The team also continues to run the OPM model portfolios created for third party solutions administered through the Parmenion platform.
A Parmenion spokesman said they were “in dialogue” with City following the recent announcements and it was “hoping to continue [its] working relationship.”
