Tufton becomes investment manager of CQS Natural Resources Growth and Income PLC

Tufton Investment Management has become the investment manager of CQS Natural Resources Growth and Income PLC, which has been renamed City Natural Resources Growth and Income PLC.

The trust is a UK-listed investment company focused on global mining, energy, and precious metals.

Under Tufton, the trust will be managed by its long-term co-portfolio managers, Keith Watson and Robert Crayfourd, who joined Tufton on 3 September 2026.

The portfolio managers resigned from the previous investment manager of the trust, Manulife | CQS Investment Management, in March 2026.

Watson and Crayford delivered a NAV total return of 208.6 per cent for the trust in the five-year period to April 2026.

Tufton, which focuses on the maritime, natural resources and energy-related sectors, said the new investment management agreement marked its expansion into commodities and natural resources.

“Keith and Rob have built enviable track records in natural resources investing,” said Tufton CEO, Nicolas Tirogalas.

“Their reputation and skills will dovetail with the institutional-grade investment management skills we have built at Tufton over four decades in maritime, energy and real assets through vehicles such as SHIP.

“Their appointment and the new investment management agreement we have secured demonstrates that Tufton is a well-regarded, growing investment house with significant pulling power, allowing us to attract the industry’s best talent.”

City Natural Resources Growth and Income PLC chair, Christopher Casey, added: "Following the resignation of our named portfolio managers, the board undertook a thorough review of options to ensure we had the best possible investment management group to support the future success of the trust.

“The combination of appointing Tufton as investment manager and the continued involvement of Keith and Robert ensures continuity for the portfolio and preserves our established and effective investment strategy.

“Keith and Rob have a strong track record of performance and we look forward to continuing to work with them to create further value for shareholders."

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