Fidelity said it has agreed in principle to acquire the £70m fund, ensuring the continuity of management for the investors.
As revealed by Portfolio Adviser on Monday, head of equities at City Financial Himsworth is to join Fidelity to work alongside former colleague Dan Roberts.
He has managed the City Financial UK Opportunities Fund since launch in September 2011, returning 54.53% during his tenure, compared to the IMA UK All Companies Sector return of 46.9%, according to City Financial data. The Index (FTSE All Share) returned 41.3%.
His investment philosophy encompasses a bottom up stock picking strategy, with a bias towards mid and small caps. He adopts a high conviction approach to portfolio construction.
“Leigh is a shrewd and experienced investor and we are confident that the combination of his expertise and the substantial research capabilities of Fidelity will prove to be a winning combination for current clients and the many new investors who we hope to attract into the fund,” Dominic Rossi, global CIO for equities at Fidelity, said.
