City Of London Investment Share Discussion Threads

[cockerhoop] 02/5/2019 15:36

FUM up to $5.391bn (End of April)

[masurenguy] 02/5/2019 14:02

50,000 shares repurchased @£4.10 and cancelled.

[montyhedge] 29/4/2019 12:27

Should settle down around 450p, I feel thats the right price.

[rcturner2] 16/4/2019 14:40

I made a good profit on these when I sold a while back. I would like to get back in at some point, although preferably lower then here.

[davebowler] 16/4/2019 09:09

Zeus-
IMS reveals 14% AuM rise YTD
What’s new. CLIG’s 3Q update on its Funds under Management (FuM) confirms that while Emerging Market Total Return Index rose 9.9%, CLIG’s FuM rose 13.9% to US$5,268m.

The statement also revealed:

§ US$153m of net inflows: US$ 45m for Emerging Markets strategy and US$101m for Developed strategy; the Frontier and Opportunistic Value Strategies were essentially flat;

§ Strategies covering >95% of group FUM outperformed due to narrowing discounts and to a lesser extent, positive NAV performance. Frontier Strategy (under 5% of FUM) underperformed largely due to unfavourable NAV performance;

§ CLIG has an active pipeline across all major CEF offerings, with increased interest continuing to be seen in the non-Emerging Market CEF strategies (i.e. Developed, Opportunistic Value).

§ Current run-rate for operating profit per month of £1.5m, before profit-share of 30% and an estimated EIP charge of 5%, based upon current FuM and a US$/£ exchange rate of US$1.3.

Zeus view. We note that the group FuM is currently above our forecast for 30 June 2019. Exhibit 10 shows the shift in Group FuM, analysed by strategy.

Exhibits 6, 8 & 9 show CLIG’s impressive Emerging Markets strategy performance relative to its peers and benchmarks.

We maintain our forecasts (Exhibits 1 & 2), which we last adjusted on 16 January 2019, and which are based on $1.31=£1 and on the MXEF ($) index being circa 1,070 for the next two years. We will review our forecasts again, when CLIG publishes its pre-close trading update on Tuesday 16 July.

Valuation. CLIG shares at 399p are trading on a prospective dividend yield of 6.8% and PER of under 11.0x. This is inexpensive, particularly for a stock which has no debt, substantial net cash, and a good record of creating and distributing shareholder value.

The close correlation between CLIG share price and the MXEF Index suggests that CLIG’s share price should be trading close to 420p (see Exhibit 12).

[skinny] 16/4/2019 09:07

I missed the second RNS :- .

[masurenguy] 16/4/2019 08:58

AISHAH - City of London Investment Trust (CTY) is a completely different company from City of London Investment Group (CLIG). The former invests in large cap UK equities like Shell, HSBC, BP, Lloyds, BAT and Glaxo and has a current yield of circa 4.5%. This is in contrast to CLIG who specilize in emerging market closed end funds with a current yield of circa 6.7% excluding the recent special dividend.

The very close similarity of the names can easily confuse people, particularly those who are not existing investors. The Tempus article in The Times refers to CTY and not CLIG although the headline could just as easily apply to this company.

[montyhedge] 16/4/2019 08:28

Excellent rns today, with buybacks on the way, should be going higher coming months.

[masurenguy] 16/4/2019 07:56

FUM up by 14% over the past 3 months ! "As at 31 March 2019, FuM were US$5.3bn (£4.1bn). This compares with US$4.6bn (£3.6bn) at the Company's half-year on 31 December 2018."

[masurenguy] 12/4/2019 09:46

Totally agree monty !

[montyhedge] 12/4/2019 09:44

We been here a longtime one of my best investments from 285p plus dividends, going to buy for new ISA.Like I said buybacks underpins shareprice.

[masurenguy] 12/4/2019 08:49

Added a few more yesterday.

[montyhedge] 12/4/2019 08:03

Share buybacks underpins the shareprice should go higher has well.

[aishah] 11/4/2019 20:19

Surely buybacks will follow some criteria E.g ADV, VWAP, etc. Not sure a thin market comes into play.

[montyhedge] 11/4/2019 16:24

Buybacks in a thin market, 10% rise in my view a certainty 440p, when they start.

[montyhedge] 10/4/2019 13:16

This is very good news, I see 10% rise in shareprice once they start, 440p here we come. I don't think investors seen this rns yet.

[stun12] 10/4/2019 12:46

CLIG has reactivated its share purchase scheme. Up to 10% of the issued share capital. Should help underpin the dividend.

"

Further to the general authority granted at the Company's Annual General Meeting held on 22nd October 2018 (the "2018 AGM") to make share repurchases of up to 10 per cent. of the issued ordinary share capital of the Company (being up to 2,668,671 ordinary shares), City of London Investment Group PLC announces its intention, while current market circumstances prevail, to buy back its ordinary shares ("Share Repurchases") using its existing cash resources, for cancellation.



The Share Repurchases have the sole purpose of reducing the issued ordinary share capital of the Company.



Any Share Repurchases will be effected on the London Stock Exchange in accordance with the authority granted by shareholders at the 2018 AGM and Chapter 12 of the FCA's Listing Rules and the Company will make further announcements in due course following the completion of any Share Repurchases.



There can be no certainty that the Company will purchase any ordinary shares under the proposed share buyback."

[nobbyx] 09/4/2019 10:43

After 'Specials' have been paid many of these recording sites, unless the Special is not being paid on the same date as a Final or Interim, tend in their records just to lump them in with the corresponding normal dividend. Many brokers do the same when passing on the payment - both divs are rolled into one payment.

Best place to look is either in the 'Investors' section of the website of the company concerned or to look back through the RN notices. The UKREG dividend announcement will tell all.

[eggbaconandbubble] 08/4/2019 14:12

Ok, so RIO are yielding approx 9% with the special divi.?

I can't find any reference yet to special divis at BHP or South32 on ADVFN financials pages.
Some info on Stockopedia. Where is best to look?

[nobbyx] 08/4/2019 11:10

Good morning again, eggs&b,

Another lot of cyclicals which goes in for Specials are the miners. Holders of BHP received a Special at the end of January, South32 paid one last week and we're due a Special from RIO next week.

[zmar90] 07/4/2019 19:34

bothdavis17 Mar '19 - 13:42 - 2201 of 2210
0 0 0
Weird, I got dividend payment on the 22nd of Feb via II?!

bothdavis - is it possible you are mixing CTY dividend (city of london investment trust) which paid a divi on 22nd feb with CLIG (city of london investment group) which is covered on this thread?