City Of London Investment Share Discussion Threads

[rcturner2] 28/5/2015 09:38

I think as the US markets continue upwards and the dollar strengths, more money must start to flow out of the dollar and into emerging markets.

[my retirement fund] 28/5/2015 09:28

Hoping we are at the end of this consolidation phase and ready to move today. Certainly starting to look well bid fwiw.

[my retirement fund] 22/5/2015 18:13

To me it looks like its established £3.50 and its of little surprise theres a period of consolidation at this level. Im surprised its not properly broken out yet. Then again not disappointed as awaiting payment of dividends to top up and hoping i get a chance before its to late.

[masurenguy] 22/5/2015 15:10

The shareprice is still struggling to establish 350p as a support level. CLIG is now the largest individual holding in the MFM Mark Slater Income Fund.

[cockerhoop] 07/5/2015 08:17

RCT,

The graph on the company website compares FUM to the MSCI EM index. I suspect it's growth in underlying assets as the MSCI EM has also kicked up.



If the new business also kicks in Barry may be selling some more shares :-)

[cockerhoop] 07/5/2015 07:38

FUM up to approx $4.4bn (at 30/04/15). Up approx 5% from end of March.

[masurenguy] 27/4/2015 22:53

Highest close in almost 3 years (since May 2012)! :-)

[envirovision] 24/4/2015 16:11

BREAKOUT....

[envirovision] 22/4/2015 11:46

Mark Slater:

Finally, he referenced the MFM Slater Income Fund, where his higher conviction income investments include City of London Investment Group, which he said had bounced back and was improving.

[chairman20] 17/4/2015 17:24

I wonder in which tax year Barry's transaction fell!!

just worthless gossip!!

[masurenguy] 17/4/2015 16:11

Now that the 250,000 share overhang has been finally cleared, there should be limited resistence to some further progress toward 400p, absent a fall in the markets. It will be interesting to see whether there is any RNS next week notifying the name of the purchaser if it is an existing institutional holder - since it represents just under 1% of the shares in issue - or whether it is a new or recent investor who still remains below the reporting threshold.

[skinny] 17/4/2015 15:57

The price was 350 (see post 1503) that's why I said ostensibly looks like a buy.

From the finals again :-



"Continuing in the vein of transparency, I would like to restate my intention regarding potential future sales of shares in the Company. I founded CLIG as an asset management business in 1991 and from the outset, I have always sought to align my interests with those of the Group's shareholders, both before and subsequent to the public listing in 2006. The consequence of this is that, as the largest shareholder and the Chief Executive of CLIG, a significant proportion of my personal resources remain invested in the Company and I believe it is appropriate and prudent, for both the Company and me personally, that I should gradually reduce my holding. Accordingly, I propose:

• Selling 500,000 at £3.50; 500,000 at £4.00 and 500,000 at £4.50. These are the same amounts and prices as referenced in the July Trading update."

[janeann] 17/4/2015 15:38

Agree, but I thought the bid would have to be above 3.50 before he sold!

[rcturner2] 17/4/2015 15:32

I'm glad that has been cleared.

[skinny] 17/4/2015 15:22

Confirmation :-

The Company would like to advise that Barry Olliff, Chief Executive Officer, today sold 250,000 ordinary shares of 1p each ("Ordinary Shares") at a price of 350 pence per share. The transaction took place in London.

Barry Olliff has now fulfilled the first tranche of his intended share sales, as (most recently) published in the June 2014 report and accounts. The current intention remains to sell 500,000 at £4.00 and 500,000 at £4.50.

Mr Olliff's resultant shareholdingin the Company following the transaction is 2,630,000Ordinary Shares, constituting 9.8% of the Company's issued share capital.

[james188] 17/4/2015 15:22

RNS just published that Barry Olliff has sold a tranche of 250,000 shares at 350p, all in accordance with previously issued guidance.

[skinny] 17/4/2015 14:51

I've just seen this trade earlier, although ostensibly it looks like a buy.

14:09:26 350.00 250,000 O 343.00 348.25 Buy 250,666 108

[masurenguy] 17/4/2015 11:26

I've been taking a look at Terry Smith's Fundsmiths Emerging Equities Trust (FEET) this morning, which was set up and floated last year. It is still at a relatively early stage on development with 62% invested and 38% still in cash. Whilst Terry Smith is a highly rated fund manager, although not so popular within the City due to his rather 'maverick' style, he does not have a long history of EM exposure or experience when compared to someone like Barry Olliff.

Currently, at £10.92 the shares are trading at a premium to NAV of around 4%, which is unusual for an investment trust, on a PER of circa 30 and with no current yield or even planned dividend over the next 2 or 3 years. "The Board does not anticipate recommending any dividends in the near future. Its investment objective is for the shares mainly to provide capital growth. The Company will comply with the United Kingdom's investment trust rules regarding distributable income but does not expect significant income from the shares in which it invests. Any dividends and distributions will be at the discretion of the Board from time to time." Martin Bralsford, Chairman, 15 March 2015

In contrast CLIG is trading on a prospective current year PER of circa 13 (based upon a projected eps of 26p this year) with a yield of 7% at todays shareprice of 345p. This just adds credibility to a view that once the overhang of the 250K shares sales is completed, we could then see some further progress towards 400p.

[masurenguy] 10/4/2015 08:26

Ah, you're right, there is no UT tag on my monitor but it appears on the individual trade listing.

[skinny] 10/4/2015 08:24

That's just the uncrossing trade (UT) at the end of the auction.

[masurenguy] 10/4/2015 08:21

Current quote is 340.66p on the Bid and 342.0p on the Offer. Therefore I wonder what this odd one-off transaction for 1000 shares @324p, just after the open, was all about !

[masurenguy] 09/4/2015 09:53

The 350p shareprice appears to be a temporary ceiling at the moment and this may be due to the potential overhang of a residual 250,000 shares that are earmarked for sale by CEO Barry Olliff at this price. He disposed of the first 250,000 tranche @350p a couple of months ago. Once this sale has been completed the price could be primed to start the next leg up towards the sequent threshold at 400p.

"Continuing in the vein of transparency, I would like to restate my intention regarding potential future sales of shares in the Company. I founded CLIG as an asset management business in 1991 and from the outset, I have always sought to align my interests with those of the Group's shareholders, both before and subsequent to the public listing in 2006. The consequence of this is that, as the largest shareholder and the Chief Executive of CLIG, a significant proportion of my personal resources remain invested in the Company and I believe it is appropriate and prudent, for both the Company and me personally, that I should gradually reduce my holding. Accordingly, I propose: Selling 500,000 at £3.50; 500,000 at £4.00 and 500,000 at £4.50. These are the same amounts and prices as
referenced in the July Trading update." Final Results Statement: September 2014

[masurenguy] 08/4/2015 07:55

This should be the fifth consecutive year of their "stonking dividend" of 24p (subject of course to no marked deterioration in H2 profit) :o)