City Of London Investment Share Discussion Threads

[masurenguy] 15/12/2015 11:06

It appears that CLIG consider the current shareprice to represent good value in order to prompt some share buybacks. This follows the 95,000 shares that were bought back for cancellation in October.

RNS Number : 1055J
15 December 2015
City of London Investment Group

Share Buyback and Total Voting Rights

City of London (LSE: CLIG), a leading emerging markets asset management group, announces that
on 14 December 2015 the Company purchased for cancellation 20,000 ordinary shares of 1p each ("Ordinary Shares") at a price of 330p per share. Following the cancellation of these shares, the Company's issued Ordinary Share capital with voting rights will be 26,797,271 shares. There are no Ordinary Shares held in treasury. The above figure of 26,797,271 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

[my retirement fund] 03/12/2015 14:44

FUM out, decline but not as much as index

[vfast] 02/12/2015 12:39

Thank you gentleman for your opinions and a constructive argument.

[chairman20] 02/12/2015 11:57

I suspect the outlook for Sterling

- forecast decline vs USD -

is enough of a +ve catalyst for FUM

[cockerhoop] 02/12/2015 09:11

I agree they have been outperforming their benchmark for the last 18 months (after a 2 year period of under performance) but to overcome a 5% headwind without new mandates is a big ask in a single month. I imagine the updated FUM will be on the site in the next few days.

I really like CLIG as a company but think that it's currently not quite offering the same value as in the past.

For comparison I purchased in Oct 12 for £3.00 when FUM was $4.5bn, in Jan 13 for £2.52 when FUM was $4.1bn and in Sept 13 for £2.22 when FUM was $3.4bn.

[masurenguy] 02/12/2015 08:44

CLIG have been outperforming their benchmark index so the decline in that index does not necessarily mean that FUM will have fallen too. In their AGM statement some 6 weeks ago they stated "As noted in the September 30th trading update, despite the recent market volatility, the Board is encouraged by the diversity in the current pipeline of potential mandates, with c$750m spread across EM, Frontier, Developed and Tactical Asset Allocation asset classes. As a result the Company is hopeful that at least a net $250m of additional FuM should be achievable over the next 6-9 months. Confirmed new mandate wins stand at $75m as at October 15th."

However we will have to wait for their FUM figure at the end of November to be published on the website which has not yet been updated.

[cockerhoop] 02/12/2015 08:12

CLIG's benchmark index is actually down approx 5% in November so FUM are unlikely to rise unless they've managed to obtain some new mandates.

[vfast] 02/12/2015 00:33

Thanks LUDERITE,

I have bought a few over the last week. In the short term I'm hoping they pay the 7% yield and looking ahead hoping the EM's progress.

[luderitz] 01/12/2015 23:48

Emerging markets seem to be on the move in the right direction from what I've heard, but don't take what I say as gospel as it's only what I've heard, I am holding off buying CLIG until I see a positive critical mass over a period.

[vfast] 01/12/2015 23:34

The spread varies during the day on the bid and the offer without any movement in the share price

The yield is very good if they keep paying it which at present it appears they will.

Anyone any opinions on the future yield and the Emerging Markets that CLIG is involved in?

[my retirement fund] 01/12/2015 17:03

The spread is normally no more than 6p which is a shade under 2% of the market price. I think if you wanted to place a large trade say 5000+ shares and you wanted to get near the bottom of this range ask your broker to place a sets order for you and it will probably get filled

[bighairyspider] 01/12/2015 16:56

Is there an reasoning why the spread on these shares is so wide at the moment? I've been looking at increasing my holding for a while now but put off buying for this reason.

[vfast] 26/11/2015 10:55

Bought a few of these today at 341p and 340p, it's a strange share to buy stock in. The share price seems to move quickly, hoping to buy a few more if I can get them under 340p.

[masurenguy] 11/11/2015 12:59

Good spot oshy92 - this extended link will connect directly to the video.

[oshy92] 11/11/2015 12:40

Good afternoon. Please find below a TV interview with CLIG's Barry Olliff

www.fmp-tv.co.uk/company/city-of-london-investment-group-investors-video-and-news/

[my retirement fund] 06/11/2015 15:04

That is certainly recovering in a healthy manner, I though it was going to be so mutch worse



Dividend cover looking excellent, room for a considered dividend rise for 2017

[masurenguy] 05/11/2015 14:12

FUM has increased by circa 10% over the past month, from $3.6bn at the end of September to a fraction under $4bn at the end of October. This marks an early achievement of the prior Hardman target of $4bn by the year end.

[aishah] 01/11/2015 12:01

Got a nice divi on Fri too. Yielding over 10% from buy back in Sept 2013.

[speedsgh] 30/10/2015 12:03

Mentioned in latest issue of Citywire Income Investor.

High Yield or Dividend Growth -

The highest yielder is City of London Investment Group (CLIG), not to be
confused with the popular UK equity income City of London investment trust.
‘The company has net cash and the dividend is covered, and it’s not an expensively rated company either,’ said AA-rated Mark Slater of the MFM Slater Income fund. ‘It’s in an interesting niche: the bulk of the business is in emergingmarket equity fund management, but they do it all through closed-ended vehicles and they are a leading player in that with great performance.’

[montyhedge] 22/10/2015 20:12

Lol City of London Trust.

[montyhedge] 22/10/2015 20:05

Great tip in tomorrow's Investors Chronicle for City of London.

[cockerhoop] 22/10/2015 07:33

Large Director sale reported after hours yesterday, Carlos flogging almost £1m worth. Small holding remaining. Company appear to have bought 30% of them for cancellation.

[my retirement fund] 20/10/2015 17:33

Massive volume at 325p today wonder who that involved?

[masurenguy] 20/10/2015 16:26

Following the AGM there is a new Hardman Note issued today.



"With the bounce in emerging markets our forecast FUM has increased with the year end 2016E now almost unchanged compared to 2015. Our 2016E eps has increased from 22.2p to 23.3p. with a slight currency offset to the FUM improvement."

[masurenguy] 19/10/2015 17:33

"The 2 analysts offering 12 month price targets for City of London Investment Group PLC have a median target of 397p with a high estimate of 400p and a low estimate of 394p. The median estimate represents a 20.6% increase from the 329p.
High +19.6 % 400p
Med +18.7 % 397p
Low +17.8 % 394p

Dividends: In 2015, City of London Investment Group PLC reported a dividend of 24p equaling last years dividend. The 3 analysts covering the company expect dividends of 26p for the upcoming fiscal year, an increase of 7.5%."