New City High Yield Fund Ltd : Holding(s) in Co...

For filings with the FSA include the annex
For filings with issuer exclude the annex
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:ii				New City High Yield Fund Limited
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights					X
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please   specify):
3. Full name of person(s) subject to the notification obligation:iii		Newton Investment Management Ltd.
4. Full name of shareholder(s) (if different from 3.):iv		N/A
5. Date of the transaction and date on which the threshold is crossed or reached:v		8 June 2012
6. Date on which issuer notified:		11 June 2012
7. Threshold(s) that is/are crossed or reached: vi, vii		Falling Below 5%

8. Notified details: ISIN JE00B1LZS514

A: Voting rights attached to sharesviii, ix

Class/type of shares if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of  voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Closed End Fund JE00B1LZS514

11,586,818

11,586,818

10,940,158

10,940,158

N/A

4.97%

N/A

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date xiii

Exercise/ Conversion Period xiv

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date xvii

Exercise/ Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

N/A

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

10,940,158

4.97%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi
Newton Investment Management Ltd. holds these shares as a discretionary fund manager.
Proxy Voting:
10. Name of the proxy holder:		N/A
11. Number of voting rights proxy holder will cease to hold:		N/A
12. Date on which proxy holder will cease to hold voting rights:		N/A
13. Additional information:	N/A
14. Contact name:	Philip Rorke
15. Contact telephone number:	0131 625 2953

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Source: New City High Yield Fund Ltd via Thomson Reuters ONE

HUG#1619485