City Of London Investment Share Discussion Threads

[irenekent] 17/9/2024 07:32

So many things are delayed these days. Perhaps they are all 'working' from home and have forgotten where their office is. Or is it something else?

[aleman] 13/9/2024 15:38

CITY OF LONDON INVESTMENT GROUP PLC

("City of London" or "the Group" or "the Company" or "CLIG")

Full Year Results release date

The Company is announcing a short delay in the release for our Full Year Results.

The Group's auditor, Grant Thornton UK LLP (GT), has requested additional time to complete their standard procedures as part of the audit finalisation process. Results were due to be released on 17 September 2024, as set out in our pre-close trading update on 25 July 2024. As a result, the Board will now announce the final dividend and results alongside publication of its Accounts for the year ended 30 June 2024 on 24 September 2024.

For further information, please visit hxxps://www.clig.com/ or contact:

Tom Griffith, CEO

City of London Investment Group PLC

Tel: [phone]

Martin Green / James Hornigold

Zeus Capital Limited

Financial Adviser & Broker

Tel: [phone]

[melton john] 13/9/2024 08:46

"Dividend of 8.56% is not well covered by earnings"
But according to Stockopedia who are usually up to date with their figures, they are actually covered. Close call it's true but it is backed by almost $26M of cash.
Compare with HFEL which is only partly covered by earnings and backed with about £30M of debt!!!
I don't expect a significant share price increase anytime soon but I'm happy to collect the dividend in my ISA, safe from they who are running out of other people's money to spend.

[pvb] 11/9/2024 10:12

...That their estimates are (partly) based on a 6 month old report?

[masurenguy] 11/9/2024 08:21

Latest quick summary from Simply Wall St. Don't really understand the significance of their Risk Analysis comment that the latest financial results are now more than 6 months old. The Y/E was on June 30th and the F/Y results are due to be announced next week on Tuesday September 17th.

CLIG Stock Overview
Flawless balance sheet, undervalued and pays a dividend.

Rewards
Trading at 29.4% below our estimate of its fair value
Earnings are forecast to grow 16.91% per year
Earnings grew by 6.1% over the past year
Trading at good value compared to peers and industry

Risk Analysis
Dividend of 8.56% is not well covered by earnings
Latest financial reports are more than 6 months old

[montyhedge] 14/8/2024 00:28

Very funny, ? surprised shareprice fall, another nice dividend expected.Seems ok the trading statement.

[masurenguy] 08/8/2024 12:08

PRE-CLOSE TRADING UPDATE for the year to 30 June 2024

City of London (LSE: CLIG) provides a pre-close trading update for its financial year ended 30 June 2024. Funds under Management were $10.2bn at 30 June 2024, an increase of 8.7% as compared to $9.4bn at 30 June 2023. Investment performance was ahead of the benchmark for the majority of the Group's strategies during the financial year. CLIM's International Equity, Opportunistic Value and Frontier Markets outperformed, while Emerging Markets (EM) equity lagged its index over the period. KIM's fixed income strategies, international equity, conservative balanced and SPAC strategies outperformed their market indices over the period, while US equity strategy lagged its benchmark.

Net investment outflows reduced significantly to $26m in the 2nd half of the FY, from $294m in the first 6 months ending December 2023. Net investment outflows totaled $320m for the Group over the 12 month FY as clients reduced exposure to EM due to ongoing geopolitical volatility. International equity strategies attracted more than $150m in net new inflows over the period. Attractive discounts in the strategies continue to be the focus of marketing efforts across the Group's asset classes.

Dividend

The Board expects the final dividend for the y/e 30 June 2024 to be in line with the previous year. Following completion of the y/e audit, the Board will announce the final dividend and results for the y/e 30 June 2024 on 17 September 2024. The Group's AGM will be held on 28 October 2024 and the Group expects the dividend payment date to be in November 2024 similar to last year's timing.

[robsy2] 07/8/2024 09:10

😂i don’t know but i love the expression!

[aleman] 25/7/2024 08:40

Would one not expect such strong investment performances on the whole to probably lead to better fund inflow figures in months ahead, or is that too simplistic a view?

[robsy2] 25/7/2024 06:25

Thanks Skinny
Steady as she goes and the dividend is safe enough.
R

[skinny] 23/7/2024 07:33

Pre-Close Trading Update and Dividend Declaration on Thursday.

[masurenguy] 17/7/2024 15:38

After drifting in the doldrums over the past couple of years it finally closed tonight at a 10 month high !

[pvb] 16/7/2024 19:45

...Time for an update?

[masurenguy] 16/7/2024 12:24

That information was taken from their website at the time this thread was set up 14 years ago and it has not been updated. Strategies evolve over time. Their initial investment strategy was focused upon funds with emerging markets exposure and they subsequently developed their prime focus into global closed end funds thereafter.

[pvb] 16/7/2024 09:27

Masurenguy, I noticed this in your heading: "From these locations it manages a number of open ended funds and segregated accounts"

I thought CLIG mainly manages closed end funds?



City of London Investment Group PLC
"City of London Investment Group PLC (CLIG) is an established asset management group listed on the London Stock Exchange, consisting of two wholly-owned subsidiaries that invest primarily in closed-end funds for the benefit of their respective clients:"

[masurenguy] 24/6/2024 07:33

9 month high this morning ! Trading update due tomorrow.

[mister md] 21/5/2024 09:43

About time too !

[masurenguy] 21/5/2024 09:15

Gradual recovery in the shareprice with a 20% rise over the past 6 weeks and an 8 month high today.