City Of London Investment Share Discussion Threads

[melton john] 07/11/2024 18:58

No mate, banked the loss and moved on when Shein started muscleing in.

[sellhighandbuylow] 07/11/2024 18:52

Are you still holding Boohoo shares Melton John ??

[melton john] 07/11/2024 18:37

Thanks bud, I just checked and a small detail, the divi is in GBP 33p and fixed for the last 4 years so the US holders get a varied divi depending on FX rate according to Stocko but strong pound still good for dollar earnings conversion to GBP. From final results:
"Recommended final dividend of 22p per share (2023: 22p) payable on 7th November 2024 to shareholders on the register on 4th October 2024, making a total for the year of 33p (2023: 33p)"
So a pound gets less strong dollars for US holders and so less divi, yes??
I need a lie down now.
USDGBP-CLIG (red,not to scale) correlation


free stock charts from uk.advfn.com

[eggbaconandbubble] 07/11/2024 17:24

Melton John - Yes, More pounds to the dollar is good for CLIG

If the dollar is strong you get more £s to each $.

Exchange rate $1.30 - For $1000 divi you receive £769

Dollar strenghtens to:-

Exchange rate £1.20 - For $1000 divi you receive £833.

[skinny] 07/11/2024 10:43

Dividend in early for HL.

[melton john] 07/11/2024 09:39

eggbacon, the mental gymnastics of FX do my old brain in. So a stronger dollar costs more pounds or on my chart above a pound gets you less dollars. Bottom line then more pounds to the dollar is good for CLIG.

[mister md] 07/11/2024 08:51

Large dividend received this morning. Eases the pain somewhat of recent (UK) shareprice declines ...

[eggbaconandbubble] 06/11/2024 16:06

The dollar should rise against the pound (and other currencies) now that Trump is president.
Thus it will benefit CLIG with dollar income.
Tree shake????

[melton john] 06/11/2024 11:28

Some of our income is in dollars Irene, maybe that's why.

[irenekent] 06/11/2024 11:10

Nearly everything I own up today, some massively. But,CLIG down. Is a Trump victory a bad omen for the company?

[skinny] 21/10/2024 06:01

IM Performance

Investment performance calendar year-to-date remains strong with the majority of CLIM & KIM core strategies outperforming. Over the most recent quarter, Opportunistic Value outperformed its benchmark while the other CLIM strategies underperformed. KIM's municipal bond, US equity, and international equity strategies outperformed whilst fixed income, conservative balanced, growth balanced, and SPAC strategies underperformed versus benchmarks over the quarter.

Flows

Emerging Market net inflows of $46 million, on the back of a new $70 million account and a $20 million Listed Private Equity account, led sales efforts in the first quarter of the financial year. Net investment outflows were $195 million for the Group over the period led by rebalancing of International Equity mandates after strong market performance. The bulk of outflows at Karpus were from a cash management account client using the funds to make an acquisition.

Dividend

On 24 September 2024 the Company (LSE: CLIG) announced a final dividend for the year ended 30 June 2024 of 22p per share. Subject to approval at the AGM on 28 October 2024, this will be paid on 7 November 2024 to shareholders on the register as at 4 October 2024. This will bring the total dividend for FY24 to 33p (FY23: 33p).

[pdosullivan] 20/10/2024 20:43

Hi all. I have written a blog on CLIG, which I am a shareholder in, that you may find of interest. Feedback very welcome and - as ever - DYOR. The blog can be found here: https://tbifund.wordpress.com/2024/10/20/city-of-london-investment-group-clig-ln-paying-dividends/

[skinny] 17/10/2024 12:01

Yes - its tough!

[montyhedge] 17/10/2024 11:52

Oh well that's it for another six months before next xd.

[mister md] 03/10/2024 06:47

Indeed -

'Recommended final dividend of 22p per share (2023: 22p) payable on 7th November 2024 to shareholders on the register on 4th October 2024, making a total for the year of 33p (2023: 33p)'

[kernelthread] 02/10/2024 20:24

Will open at 365 tomorrow due to 22p dividend.

[2 risky] 02/10/2024 18:46

XD tomorrow

[mister md] 02/10/2024 18:25

Slowly approaching break-out stage ? Final trades of the day all going through at full offer price of 387p.

[maty] 02/10/2024 08:57

Good divi .. doubt they will sell just yet .. may even buy some IMO

[masurenguy] 02/10/2024 07:34

Header updated to reflect current major shareholders. Interesting to note that the company founder Barry Olliff, who retired and stepped down from the BoD just over 2 years ago, still retains a holding of circa 860,000 shares in the company.

[masurenguy] 02/10/2024 07:04

Good fund performance and solid results

City of London has announced its full-year results for 2024. As stated in the trading statement, FUM was $10.24bn, a 9% increase over the year. While market performance offset net outflows, there was a significant improvement in the latter in the second half, which bodes well going forward. Underlying profit before tax of $27.2m was a 0.5% increase over 2023’s $27.0m. A higher effective tax rate meant that underlying EPS declined 3% from 43.4¢ to 42.2¢. As previously announced, the final dividend was unchanged, at 22p, making 33p for the year as whole. Cash balances increased, to $33.7m, from $25.9m as of 31 December 2023.

Funds: Performance in the underlying funds was excellent, with the Emerging Markets strategy being the only major underperformer. Even that saw outperformance in the second half of the year. Four out of six Karpus strategies outperformed by more than 250bps, which will help marketing efforts.

Estimates: Tighter fee margins and adverse exchange rate movements have led to downgrades of our earnings estimates. Our 2025E underlying EPS has decreased by 3% from 50.6¢ to 49.2¢ and our 2026E EPS has decreased by 2% from 55.5¢ to 54.1¢.

Valuation: After the recent performance, the 2025E P/E of 12.5x is a noticeable discount to the peer group. A 2025E dividend yield of 8.7% is well above the market average and should, at the very least, provide support for the shares in the current markets.

Risks: Although City of London has reduced its relative emerging markets exposure, it is still 36% of assets. It has proved to be more robust than some other fund managers, aided by its good performance and strong client servicing. Market volatility remains a risk, although increasing diversification is also mitigating this.

Investment summary: Having maintained good long-term investment performance and operational control, City of London is well-placed to grow organically. We believe the valuation remains reasonable. Now that the Karpus transaction has settled down, the prospects for future dividend increases may be more dependent on markets and the ability to attract new business.

[kernelthread] 30/9/2024 13:59

Goes ex-div on Thursday. 22p dividend.