City Merchants High Yield Trust Limited is a closed-end investment company. The Company is engaged in investment in a portfolio of high-yielding fixed-interest securities. Its investment objective is to seek to obtain both high income and capital growth from investment, predominantly in high-yielding fixed-interest securities. It may invest in fixed-interest securities, including but not restricted to preference shares, loan stocks, corporate bonds and government stocks, over 100% of total asset. Its investment in equities may be made up to an aggregate limit of over 20% of total assets, investments in a listed investment company or trust, will not exceed over 15% of the value of its investments, and investments in unlisted investments will not exceed over 10% of its total assets for individual holdings and over 25% in aggregate of total assets. It invests across a range of sectors, including insurance, telecoms and utilities. Its investment manager is Invesco Fund Managers Limited.