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Share Name Share Symbol Market Type Share ISIN Share Description
City Of London Investment Group LSE:CLIG London Ordinary Share GB00B104RS51 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +12.00p +3.27% 379.00p 370.00p 388.00p 378.00p 370.00p 378.00p 3,063 16:35:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 33.9 12.8 39.5 9.6 101.81

City Of London Investment Share Discussion Threads

Showing 2251 to 2275 of 2275 messages
Chat Pages: 91  90  89  88  87  86  85  84  83  82  81  80  Older
DateSubjectAuthorDiscuss
16/1/2019
17:30
Is it nearly fill yer boots time ?
montyhedge
16/1/2019
14:38
MSCI EM Index is up 5% since the end of Dec so probably adds $200m to FUM. I'd guess realtime FUM approx $4.8bn.
cockerhoop
16/1/2019
14:01
Graham Neary's view: "This investor in closed-end funds has seen a net outflow of $42 million over six months, and negative performance has contributed to a total reduction in funds under management (FuM) of some $480 million. Key points *FuM is $4.6bn at Dec 2018, versus $5.1bn at June 2018. *The primary strategy, Emerging Markets, outperformed, but the newer strategies all underperformed. *A positive note, CLIG has been notification of inflows worth $125m to be funded over Q3 *The dividend yield is a stonking 8%. I would think that prospects for long-term growth are probably still good - emerging market asset managers enjoy some nice tailwinds. Short-term developments have been a bit disappointing, and the share price reaction has left the stock with a ValueRank of 98. The Stocko system ranks this as a Super Stock. So this is another fund management company that I am keenly interested in."
masurenguy
16/1/2019
09:00
This is one of my larger holdings and I've been invested here for almost 9 years, primarily for the yield. A few years ago, from 2011 - 2014, they maintained their dividend even when the the cost exceeded profit after tax by subsidising it from reserves and I think they would do this again if necessary. I certainly don't plan to reduce my investment here but I will review my position when Barry Olliff finally retires in October this year. Tom Griffith has a tough act to follow in this respect and he will have to win his spurs in his new role from next month before Barry departs in October.
masurenguy
16/1/2019
08:28
The link to a graph showing dividend cover is hTTp://www.rns-pdf.londonstockexchange.com/rns/1943N_1-2019-1-15.pdf Coverage looks a bit skinny, but still possible to maintain the divi. Not a great quarter for them, but most markets have been falling - the FuM numbers fell more due to loss of value rather than outflows. No reason not to stick with it for the while, I'd have thought.
stun12
16/1/2019
07:58
Unfortunately a Q1 profit warning with overall FUM down by circa 10% and a projected profit decline of 20%. This will inevitably hit the shareprice today. As at 31 December 2018, FuM were US$4.6 billion (£3.6 billion). This compares with US$5.1 billion (£3.9 billion) at the Company's year-end on 30th June 2018. The EM strategy outperformed due to narrowing discounts and good country allocation over the period. Negative relative investment performance was recorded across Developed, Opportunistic Value and Frontier strategies. Generally, a combination of NAV performance and discount widening, relating to year-end tax-loss selling in the US, affected relative performance. During the period under review, the Developed and Opportunistic Value strategies recorded combined net inflows of $136 million. The EM and Frontier strategies saw net outflows of $157 million and $21 million, respectively. During the most recent period of volatility, we have to date received notification of $125 million of net inflows in aggregate across all strategies, which we expect to be funded over the next quarter. With regard to business development, the Group continues to maintain an active pipeline across all of its major CEF offerings, with increased interest continuing to be seen in the non-Emerging Market CEF strategies (i.e. Developed, Opportunistic Value). Operations The Group's income currently accrues at a weighted average rate of approximately 77 basis points of FuM, net of third party commissions. "Fixed" costs are c£1.1m per month, and accordingly the current run-rate for operating profit, before profit-share of 30% and an estimated EIP charge of 5%, is approximately £1.2m per month based upon current FuM and a US$/GBP exchange rate of US$1.275 to £1 as at 31 December 2018. The Group estimates the unaudited profit before taxation for the six months ended 31 December 2018 to be approximately £5.2 million, which compares with £6.6 million for the equivalent period to 31 December 2017. The Company is currently in a close period which will end with the publication of results for the six months ended 31 December 2018 on 18 February 2019.
masurenguy
18/12/2018
13:17
And still doing so!
eggbaconandbubble
08/12/2018
09:10
Shareprice has held up well, especially compared to other financial stocks, during the market turmoil.
masurenguy
12/11/2018
11:46
7per cent dividend yield. Undervalued imo
cascudi
11/10/2018
09:09
You're right stun12/skinny - I got my date mixed up this morning. Anyway - aside from current market conditions - the shareprice fall is primarily due to going XD today.
masurenguy
11/10/2018
09:04
Ahh thanks Skinny.
tim 3
11/10/2018
09:01
Yes - today is XD.
skinny
11/10/2018
09:00
You mean today :-)
skinny
11/10/2018
08:59
Did we go XD today. or is this just the usual exaggerated move?
stun12
11/10/2018
08:59
Goes XD tomorrow
masurenguy
11/10/2018
08:55
wow thats some drop even in this market!
tim 3
08/10/2018
06:56
FUM marginally down by 2.5% at Q1 compared to the last fiscal year end. This was primarily due to EM & Frontier which underperformed compared to DEV and OGV which showed modest increases. Last years final dividend increase of 8% will be recommended for approval at the AGM in 2 weeks time. RNS Number : 2045D 8th October 2018 Trading Update - 1st Quarter Funds under Management (FuM) City of London (LSE: CLIG), a leading specialist asset management group offering a range of institutional products investing in closed-end funds, announces that as at 30th September 2018, FuM were US$5.0bn (£3.8bn). This compares with US$5.1bn (£3.9bn) at the Company's year-end on 30th June 2018. A breakdown by strategy follows: FuM ($mn) Strategy Index Sep-18 Jun-18 % Net % (estimate) inc/dec Flows inc/dec EM 4,016 4,207 -5% (95) MSCI EM -1% DEV 577 481 20% 98 MSCI ACWI 4% Frontier 215 245 -12% (21) MSCI Frontier -2% Opportunistic ACWI/Barclays Global Value 200 174 15% 26 Agg 2% 5,008 5,107 8 Note: Opportunistic Value includes the new Municipal Bond strategy. IM Performance IM performance was slightly behind benchmark over the quarter. Specifically, in the Emerging Market and Frontier strategies underlying NAV performance was weak (that is, the underlying closed-end fund managers underperformed their relevant benchmark indices). In the Developed strategy relative returns were impacted by widening discounts. Flows were neutral over the quarter. The EM, Frontier and Opportunistic value strategies saw rebalancing outflows which were offset by continued strong flows into the Developed strategy and the funding of a new Municipal bond mandate. Operations The Group's income currently accrues at a weighted average rate of approximately 77 basis points of FuM, net of third party commissions. "Fixed" costs are c. £1.1m per month, and accordingly the current run-rate for operating profit, before profit-share of 30% and an estimated EIP charge of 4%, is approximately £1.4m per month based upon current FuM and a US$/GBP exchange rate of US$1.3 to £1 as at 30th September 2018. The Group estimates that the post-tax profit for the first three months of the year will be approximately £2.2m (2017: £2.5m). Dividends The final dividend of 18p per share, subject to AGM approval on 22nd October 2018, will be paid on 30th October 2018, bringing the total dividend for the financial year 2017-18 to 27p (2016-17: 25p).
masurenguy
26/9/2018
12:41
I've still got 5 years to wait for that pleasure!
skinny
23/9/2018
18:27
Nobby & Skinny I bought some more last week and the same thing happened. Still onwards and hopefully upwards and enjoy the divi. Just as an aside I was 65 last week so the State Pension started. I get £1.08 for every hour I now live! All taxable of course! However it did occur to me that if I lay in bed till 9 o'clock the government would have given me enough money to get up, go out and buy a double espresso, a copy of The Telegraph and a Full English in the local cafe!!! Kushti!
eggbaconandbubble
23/9/2018
16:19
Strengthening cash position to boost returns City of London has released its annual results for 2018. As headline figures were given in the July trading statement, there are no big surprises in these results. FUM grew 9.5% in US Dollar terms over the year to $5.1bn. With Sterling strengthening relative to the US Dollar and lower fee margins, revenue growth was a little behind this at 8.4%. Total expenses grew at 8.2%, giving a net 8.9% growth in operating profit to £12.5m. EPS growth was 7.0%, lower than the 10% increase in earnings due to fewer shares being held by employee benefits schemes. ► Cash: City of London usually has excellent cash conversion. The 2018 figure of 120% was boosted by changes in working capital, notably a £1.4m increase in trade payables. The year-end cash balance of £19.7m is more than 40% up on a year ago, with suggestions that some might be returned to shareholders. ► Management and board changes: The coming year is going to see significant changes. In early 2019, Tom Griffith, who is currently Deputy CEO, will become Group CEO in advance of Barry Olliff’s retiral at the year end. David Cardale will also be stepping down as Chairman, to be replaced by Barry Aling. ► Valuation: The prospective P/E of 10.3x is at a significant discount to the peer group. The historical yield of 6.3% is attractive and should, at the very least, provide support for the shares in the current markets. ► Risks: Although emerging markets can be volatile, City of London has proved to be more robust than some other EM fund managers, aided by its good performance and strong client servicing. Further EM volatility could increase the risk of such outflows, however. ► Investment summary: Having shown robust performance in challenging market conditions, City of London is now reaping the benefits in a more supportive environment. The valuation remains reasonable. FY2017 and FY2018 both saw dividend increases and, unless there is significant market disruption, more should follow in the next few years. http://hardmanandco.com/docs/default-source/company-docs/city-of-london-investment-documents/20.09.18-strengthening-cash-position-to-boost-returns.pdf?dm_i=49CL,DD7I,VNXWR,1HSW9,1
masurenguy
18/9/2018
14:49
Thanks, Skinny. I was puzzled why I missed eggs' trade. Answer is his post was from yesterday so I looked up the Trades for the 17th. Presumably, eggs, you made the trade on the 17th but it was reported as being at 10:18:33 this morning.
nobbyx
18/9/2018
10:20
Try this link.
skinny
18/9/2018
10:05
I use the advfn trades page for my info. I note quite a few of my trades flash up later in the day, if at all. That 5000 at 08.19 wasn't mine. Can,t remember my exact price but it was lower than 420p.
eggbaconandbubble
18/9/2018
09:26
eggsetc, a trade for 5000 on the NEX market at 420p went through at 08:19:11 yesterday morning. Correct number, wrong time. Only LSE trades are reported on the 'Java' Trade page. If you change to the 'HTML5' option you will see both NEX and LSE trades. (Most private as opposed to institutional bargains appear to be done on the NEX market).
nobbyx
17/9/2018
21:03
Interesting that my purchase of 5000 at 10.18 am today has not shown up on 'trades'
eggbaconandbubble
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