Statement re AIFMD

RNS Number : 9937M

City Natural Res High Yield Tst PLC

22 July 2014

 



CITY NATURAL RESOURCES HIGH YIELD TRUST PLC

NOTICE OF ENTRY INTO ARRANGEMENTS WITH SERVICE PROVIDERS TO ENSURE COMPLIANCE WITH THE ALTERNATIVE INVESTMENT FUND MANAGERS DIRECTIVE (2011/61/EU)("AIFMD")

City Natural Resources High Yield Trust plc (the "Company") announces that with effect from 21^st July 2014 the Company has entered into the arrangements necessary to ensure compliance with the AIFMD.

The Company's board of Directors (the "Board") has approved the appointment of CQS Asset Management Limited ("CQSAML") as the Company's Alternative Investment Fund Manager ("AIFM") on the terms of and subject to the conditions of a new investment management agreement between the Company, CQS Cayman Limited Partnership and CQSAML. CQSAML is an affiliate of CQS Cayman Limited Partnership and will be approved as an AIFM by the UK's Financial Conduct Authority.

The management fee remains unchanged, and the notice period has extended from three to six months.

The Board has also appointed HSBC Bank plc (the "Depositary"), of 8 Canada Square, London, E14 5HQ to act as the Company's Depositary (as required by the AIFMD) on the terms and subject to the conditions of a depositary agreement entered into between the Company, the AIFM and the Depositary, under which the Depositary will continue to act as the Company's Custodian.

22 July 2014

For further information please contact:

Craig Cleland                                                                                    

CQS Asset Management Limited

0207 201 5368

Martin Cassels

R&H Fund Services Limited

0131 524 6140

 

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