City Financial is to merge its £31m OPM Fixed Interest fund - run by Tony Yousefian - into the City Financial Diversified Fixed Interest fund as it moves to streamline its fund range.
The merger of the fund comes following the takeover of OPM Fund Management last year. Yousefian joined the group last April following the takeover, but his fund will now be merged into head of multi-asset Mark Harris' product, with Harris to remain in charge of the enlarged mandate. Yousefian still runs the EFA OPM Property fund which has returned 5.4% over the year to 14 February according to Morningstar, versus a sector average of 3.0%. City Financial said the merger was part of a strategy to simplify the range and brand the funds in the same way. Chief executive Andrew Willia...
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