As a specialist fund manager, NCIM have built up a formidable reputation in the natural resources and high yield sectors. The investment team have exceptional experience and have worked closely together over the years to deliver top performance for investors.

Will Smith

• Will is Senior Fund Manager for City Natural Resources High Yield Trust. He is also adviser to New City High Yield Fund, Geiger Counter Limited, New City Energy Limited and Golden Prospect Precious Metals.
• City Natural Resources High Yield Trust was 2011 winner of Investment Week’s Investment Trust of the Year for Best Specialist Trust.
• Prior to joining CQS in 2008, he was responsible for running Landsbanki Securities Proprietary Trading focusing on Global Resources.
• He has over thirty years investment experience,with Panmure Gordon, where he was Head of FTSE 250 Market Making and with UBS and Morgan Grenfell Securities, trading UK equities.

Ian "Franco" Francis

• Franco is Senior Fund Manager for New City High Yield Fund Limited. He also supports the portfolio management team for City Natural Resource High Yield Trust Plc.
• New City High Yield Fund in 2010 was winner of the Investment Week’s UK Income Investment Trust of the Year.
• Joined CQS in 2007 as part of CQS’ acquisition of New City and has more than twenty five years experience in trading and portfolio management.
• Prior to joining New City in 2007, Ian worked in a variety of roles in convertible bond trading and sales at firms including Collins Stewart Limited, where he was Head of Trading and Convertibles; West LB Panmure as Head of Convertibles, James Capel & Co. and Hoare Govett & Co.
• Began his career in fund management at Baring Bros. and Phillips & Drew.

John Wong

• John is Senior Fund Manager for Golden Prospect Precious Metals and for Geiger Counter Limited. He is also an adviser to City Natural Resources High Yield Trust.
• Prior to joining CQS in 2008, John was an Investment Manager with Ruffer LLP. Before this, he worked at Friends Ivory & Sime and Rothschild Asset Management. He has seven years experience in the investment management industry.
• John is a Chartered Accountant and also a CFA charter holder. Prior to working in the Fund Management industry, he spent six years at PricewaterhouseCoopers, initially as an auditor and later as a management consultant.

Robert Crayfourd

• Rob is analyst and assistant portfolio manager to the New City managed resources funds.
• Prior to joining CQS in 2011, Rob was an analyst at the Universities Superannuation Scheme and HSBC Global Asset Management where he focussed on the resource sector.
• Rob is a CFA charterholder and holds a BSc in Geological Sciences from the University of Leeds.

Adam Cooke

• Responsible for Investor Relations and New Product Development at New City.
• Non-executive director of City Natural Resources High Yield Trust, Midas Income & Growth Trust Plc and Premier Energy & Water Trust.
• Adam joined CQS in 2007 as part of CQS’ acquisition of New City.
• Has thirty years of experience in financial services.
• Prior to joining New City in 2006, Adam was a Global Partner of AMVESCAP and before this he worked for the UK operations of INVESCO Perpetual for over twenty years.

Nigel Carter

• Responsible for Marketing and Business Development at New City.
• Over thirty years equity sales experience at Merrill Lynch, ABN Amro Hoare Govett, Societe Generale and BNP Paribas.
• During that time he headed up the Australian sales team in New York and pan-European sales teams in London.