City Of London Investment Share Discussion Threads

[owenski] 18/7/2016 07:19

FUM lower, costs rising, div covered less than x1 but payout maintained.

[garycook] 18/7/2016 07:13

Final Dividend maintained at 16p,but overhead cost rising.

[my retirement fund] 11/7/2016 23:02

Having seen how the price has held up post brexit I think the shareprice will be moving to fresh highs

[topvest] 11/7/2016 20:13

Don't think they will be increasing the dividend for a while yet, but the dividend cover now looks more comfortable. I would like to buy more as well. Had a look the other day but the price wasn't quite good enough.

[my retirement fund] 11/7/2016 12:50

Ive been a holder for quite some time, but I have also been adding due to the cover given thanks to the weakness of GDP.

There really is now scope here to increase the dividend pushing the yield well in excess of 8%

[robsy2] 11/7/2016 10:55

Bought some mre this morning, the spread made me wince a bit but I am looking for that 8% divi over the next 5 years combined with a gradual rise in the share price to say 400p to reflect the iimproving fortune sof the company, so if I can get 10-15% a year over the next 5 years , the buying costs will be worth it...
That's the theory anyway
Best
R2

[masurenguy] 05/7/2016 13:02

Thanks Mayn. It is also worth restating Barry Olliff's publicly expressed intentions on his planned future share disposals that he reiterated in the 2015 final results that were issued on 14/9/15.

"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, close to all of my investible wealth remains in CLIG shares and I believe it is appropriate and prudent, for both the Company and me personally, that I gradually reduce my holding prior to my retirement in 2020. Accordingly, I propose: -- Selling 500,000 at £4.00 and 500,000 at £4.50. These intentions are the same as were communicated to shareholders, and specifically subsequent to my previous sale of 500,000 shares at £3.50 earlier this year."

His recent opportunistic buy of 145,186 shares @295p last month also suggests that he remains confident of achieving the above announced price thresholds to trigger those sales.

[aleman] 05/7/2016 12:11

You are a bit behind. £ currently $1.315 (and Euro 1.18),

[robsy2] 05/7/2016 12:01

Good thread this. Thanks TMFMayn for the info, much appreciated. We are looking good!
R2

[robsy2] 05/7/2016 12:01

Good thread this. Thanks TMFMayn for the info, much appreciated. We are looking good!
R2

[tmfmayn] 05/7/2016 09:50

June AUM out:
hxxp://citlon.co.uk/shareholders/announcements.php

$4.0bn.

Weak GBP should help earnings from here.

February's interim report...

hxxp://citlon.co.uk/shareholders/share_reports/CoL_Interim11_15.pdf

...said: "A weak pound vs the US$ has a very beneficial effect on profits."

Accompanying FUM/FX table in the chairman's statement indicated that earnings would be £6.9m with $4bn FUM at £1:$1.45

But at same FUM and £1:$1.35, earnings would be £7.5m -- £0.6m higher -- and equivalent to about 29p per share. More than enough to cover the divi.

[speedsgh] 03/7/2016 22:08

Maybe that is why CEO added to his holding recently, even though he is looking to reduce his holding over long term?

[robsy2] 03/7/2016 19:01

vfast makes a good point. Earnings in USD, reported in Sterling, means an earnings tailwine. This, coupled with a recovery in EM's means AUM will increase as well. Now we see that ,we can expect them to capture more assets , so it is looking positive on all fronts. We may start to see some momentum in CLIG share price going forward from here.
R2

[montyhedge] 02/7/2016 18:22

Weak pound surely helping fum.

[chairman20] 28/6/2016 17:27

Aleman The global economic shock
is the one factor that is very hard to
read. Arguably there is no case why
there should be disproportionate effects

- but then with the fragile state of
everything who knows? I had thought
the US election would be the catalyst
for a reversal of Dow etc... but
that could feed in to the current EU
crisis ahead of the event.

[aleman] 28/6/2016 00:54

I have several income trusts that have seen NAV jump on Friday as the £ fell (and so their NAVs might have risen again today, pushing them towards a 10% rise in NAV two days). Shares have not really responded but they haven't fallen like everything else. Interestingly, they are obliged to pay out income as dividends and that will jump too. The question is, will the uncertain affects on the UK, European and global economy counter that? Will they see the benefits of sterling translation eaten up as dividends get cut by 10% due to economic problems in China and the Far East, N+S America, Europe - or not? I don't know - but it gives a bit of relief to see NAVs jump and wonder if dividends might actually increase.

[vfast] 27/6/2016 18:37

I'am I right in thinking the weak pound against the dollar helps FUM or is there more to it than that?

The rest of my investments have falling off a cliff edge!

[mister md] 24/6/2016 19:52

Glad to be holding this one in my portfolio. ALAI is also recovering nicely

[garycook] 24/6/2016 03:26

It shows Barry Olliff,s commitment and confidence in CLIG. Basicially stated that CLIG will reach at least 400p and 450p, by the year 2020. Hold take the near 8%,and get paid for the future growth.

[my retirement fund] 23/6/2016 23:47

Given the yeild on offet its certainly a hell of a lot better than leaving such a large sum of cash in a banks savings account.

[asmodeus] 23/6/2016 23:15

A small top-up? It looks like £428,208 to me and my calculator !

[speedsgh] 23/6/2016 21:22

Doubt it. Just a small top up at what he presumably views an attractive level. Must've found a few notes stuffed down the back of the sofa...

from Final Results (Sept 2015):
"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, close to all of my investible wealth remains in CLIG shares and I believe it is appropriate and prudent, for both the Company and me personally, that I gradually reduce my holding prior to my retirement in 2020.

Accordingly, I propose:

• Selling 500,000 at £4.00 and 500,000 at £4.50. These intentions are the same as were communicated to shareholders, and specifically subsequent to my previous sale of 500,000 shares at £3.50 earlier this year."

[my retirement fund] 23/6/2016 21:16

Looks like he's changed his mind.

[speedsgh] 23/6/2016 21:10

Yes, especially as he is in the process of selling down his shareholding in an open and orderly fashion. I will take today's purchase as a positive.