City Financial hard closes credit fund ten months after launch

Reached $500m in assets

City Financial has announced the hard closure of its Decca credit strategy after it reached full capacity in just ten months.

The fund was launched on 1 April, 2015, and since then assets in the strategy have reached $500m. As a result, the firm has advised the directors to hard-close the fund, managed by Shahraab Ahmad, to existing and new investors due to market conditions. Andrew Williams, chief executive of City Financial, said: "City Financial is focused on ensuring the Decca fund is run at a scale that takes into account market conditions, volatility, and other relevant risk considerations. "We are pleased the fund reached that scale in only 10 months, without recourse to any seeding arrangements." ...