CQS New City High Yield Fund Limited: Personal Assistant to Director Purchases 40,000 Shares at £0.52244 Each

Overview of CQS New City High Yield Fund Limited and Share Details

CQS New City High Yield Fund Limited is an investment company specialising in high-yield fixed income securities and related strategies. Operating as a closed-ended fund, it maintains a fixed number of shares rather than issuing or redeeming units continuously. Registered in Jersey with LEI 549300KMGN75B0PTWT07, the fund is publicly traded on the London Stock Exchange under the ticker NCYF.

The fund’s ordinary shares carry no par value and are publicly traded, enabling both retail and institutional investors to access its portfolio. Identified by ISIN JE00B1LZS514, these shares represent exposure to higher-yielding fixed income assets, typically involving greater credit risk than government or investment-grade corporate bonds.

Details of the Share Acquisition by Catherine Emma Newlands

On 23 July 2026, Catherine Emma Newlands, identified as a person closely associated with a director of CQS New City High Yield Fund Limited (specifically a personal assistant to a director), purchased 40,000 ordinary shares on the London Stock Exchange at £0.52244 per share. This transaction triggered an initial notification under UK Market Abuse Regulation rules, with the disclosure made on 27 July 2026, aligning with standard UK market settlement and reporting timelines.

Though the transaction was executed by a person closely associated rather than the director directly, regulatory obligations require full disclosure to maintain transparency and mitigate risks related to insider information or conflicts of interest.

Regulatory Compliance Under UK Market Abuse Regulation

This transaction disclosure complies with Article 19(3) of the UK Market Abuse Regulation (UK MAR), which mandates reporting of dealings by directors, persons discharging managerial responsibilities (PDMRs), and their closely associated persons. This framework aims to prevent market abuse and provide investors with insight into trading activities by individuals with potential access to inside information.

Persons discharging managerial responsibilities include directors and senior managers, while closely associated persons encompass family members, spouses, and in this case, a personal assistant. The regulation covers transactions in the company’s securities regardless of whether conducted personally or via intermediaries, reflecting the importance of monitoring all relevant insider-related trades.

Execution of Transaction on the London Stock Exchange

The share purchase was executed on the London Stock Exchange’s main market (XLON), the principal venue for trading UK-listed equities and funds. The 40,000 shares were acquired at the market price of £0.52244 per share on 23 July 2026, ensuring transparent pricing and regulatory oversight.

Trading on the London Stock Exchange provides investors with continuous price discovery and liquidity, supported by surveillance systems that detect unusual trading patterns. Conducting the transaction on a regulated exchange guarantees full transparency and integration with the UK regulatory reporting framework, enhancing investor confidence.

Share Price Context and Investor Insights

The disclosed purchase price of £0.52244 per share reflects the transaction execution price on 23 July 2026. The announcement does not include information on the share price immediately before or after the trade, nor historical price data to assess the transaction’s impact on valuation.

For investors, the share price is a key indicator of the fund’s net asset value relative to market sentiment. High-yield funds like NCYF may trade at discounts or premiums to their net asset value depending on market conditions and fund performance. Insider purchases may signal confidence but are not investment recommendations and should be interpreted cautiously.

Initial Notification and Reporting Procedures

This transaction represents an initial notification, required when a person subject to UK MAR rules conducts their first transaction after appointment or classification as a PDMR or closely associated person. Subsequent transactions must also be reported unless exempted under specific criteria.

The disclosure was filed according to the Financial Conduct Authority and London Stock Exchange requirements and published via the Regulatory News Service (RNS). These disclosures are monitored by investors and analysts to track insider activity and maintain market integrity.

High-Yield Fund Strategy and Management Context

CQS New City High Yield Fund Limited focuses on high-yield fixed income investments such as sub-investment grade corporate bonds, emerging market debt, and distressed securities. The strategy aims to generate income and potential capital gains but carries elevated credit risk and volatility compared to more conservative fixed income portfolios.

Insider share acquisitions may be viewed positively by some investors as an indication of confidence in the fund’s outlook, though regulatory guidance cautions against inferring investment advice from such transactions. Investors should consider these disclosures alongside broader fund performance and market conditions.

Adherence to Compliance and Disclosure Standards

The Company’s notification meets UK MAR and London Stock Exchange standards by providing detailed information on the transacting party, relationship to the company, instrument, price, volume, date, and trading venue.

Compliance is overseen by the Company’s board and compliance teams, with timely and accurate disclosures essential to avoid regulatory penalties. Publishing via RNS ensures equal access to information for all market participants, supporting transparent governance and investor confidence.

Investor Guidance and Considerations

Shareholders should incorporate regulatory disclosures like this transaction into their broader investment analysis, considering fund performance, risk factors, and market conditions. Insider purchases do not guarantee future results and should not be the sole basis for investment decisions.

Investors are encouraged to review the fund’s latest reports, key investor information documents, and prospectus to understand its strategy, risks, and track record comprehensively.