Statement re Investment Limits

30 April 2020

CQS New City High Yield Fund Limited

Statement re Investment Limits

The Board announces an amendment to the maximum permitted to be invested in an investee company.  The limit currently reads "The Board has established a maximum investment limit whereby, at the time of investment, the Company may not invest more than 5 per cent of its total investments in the same investee company."    

The Board has amended this limit to "The Board has established a maximum investment limit whereby, at the time of investment, the Company may not invest more than 7.5 per cent of its total investments in the same investee company and that this be limited to no more than 3 investee companies with a maximum investment limit of 5 per cent thereafter. In addition, there is a maximum investment limit whereby, at the time of investment, the Company may not invest more than 5 per cent of its total investments in any one security."

The Board believes this amendment will give the Investment Manager greater flexibility to manage the portfolio for the benefit of Shareholders.

ENQUIRIES

For the Investment Manager

New City Investment Managers

Craig Cleland

0207 201 5368

For the Company Secretary and Administrator

BNP Paribas Securities Services S.C.A. Jersey Branch

Siobhan Lavery / Skye Inman

01534 709 181/ 01534 813 820