Neptune sells Husselbee's multimanager funds to City Financial

City Financial has bought Neptune's multi-management funds whilst securing the continued management o...

City Financial has bought Neptune’s multi-management funds whilst securing the continued management of the vehicles by North’s John Husselbee. This brings City Financial’s retail range to £122 AUM and further loosens Neptune’s ties with North following Husselbee’s MBO in late September. North was formerly a wholly-owned subsidiary of Neptune but following the buy out it is now only included in the administration and regulatory framework. Husselbee already runs two vehicles for City Financial the UK Select Alpha fund and Diversified Absolute Return vehicle. Robert Warner, finance direct...