City Natural Resources Growth and Income Trust Plc (LSE: CYN) actively invests in global energy and mining companies, with a focus on total return and pays a regular quarterly dividend. The flexible mandate allows the portfolio weighting between energy and mining to shift depending on the point in the cycle, and the portfolio is not managed against any stock market index or benchmark.

The Company’s closed-ended structure lets the investment team focus on returns, rather than liquidity, unlike Exchange Traded Fund (ETF). This means the Company can hold companies that sit just below the size needed for major index or ETF inclusion — offering further upside if they’re later included.

The portfolio is invested mainly in producers and developers across the natural resources sector, typically with market capitalisations typically in the region of £300m to £2bn, and is weighted mostly towards companies listed in North America, Australia and the UK.

The Company targets an enhanced dividend yield of 8% of NAV per annum, funded from capital reserves as required.

The Company is managed by Tufton Investment Management Ltd, with the portfolio managed by Keith Watson and Robert Crayfourd.