Share Name Share Symbol Market Type Share ISIN Share Description
City Of London Investment Group Plc LSE:CLIG London Ordinary Share GB00B104RS51 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -10.00 -2.27% 431.00 431.00 432.00 445.00 431.00 445.00 36,322 16:27:25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 33.3 9.4 30.3 14.2 218

City Of London Investment Share Discussion Threads

Showing 2401 to 2424 of 2700 messages
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Is there any way you can invest in there funds ?
Yes, let’s hope so. He’s a genius!
Barry will always be there in the background.
Good to see that the well planned handover by the founder has been extended for a little bit longer so that Barry can continue to advise the board on business development during 2020 as we head toward the uncertain terms of the final Brexit deadline in December. He also still maintains a holding of just over 2m shares (7.6%) which are currently worth circa £8.75m. "Barry M. Olliff, Founder and Director, has retired from his executive role effective 31 December 2019, having retired from the Board of City of London Investment Management Company Limited on 1 December 2019. The Board re-confirms that Barry has agreed to serve as an advisor to the executive team for the next two years. In addition, the Board has now asked him to complete his current term as a Non-Executive, non-independent Director on the Group Board through October 2020, in order to advise on the continued development of the business, and the Directors are pleased to announce his acceptance."
Board Changes.
Company's Employee Benefit Trust appears to see value at the moment having purchased 425,000 shares over the past 4 weeks at between 4.15p and 4.25p. That constitutes 25% of their total current holding of 1.68m shares
Nice update masurenguy. Very pleasant reading. I wish more companies were run this way!
A small top up @420p this morning. At this price the yield (excluding any further special dividends) is still 6.6% although the actual yield on my overall holding is well above 8%. Barry Olliff is still looking to reduce his current shareholding from circa 2m to 500k as he approaches retirement and is expecting to achieve a shareprice well in excess of today's current Offer. It is also worth noting that Tom Griffth, his successor as CEO, is also very confident in further future value creation and has a significant pro rata personal investment in the company, which aligns his interest with those of the external shareholders. "As he approaches retirement on 31st December 2019, Barry intends to sell 500,000 shares at each of 450p, 475p, and 500p subject to close periods. We believe that this statement of Barry's intentions should continue in order to maintain the openness and accountability with shareholders that he has provided over the years and leading up to his retirement..........As Barry has mentioned relative to his own CLIG share ownership on previous occasions, albeit on a much smaller scale, any wealth that I may have is invested in shares of CLIG. I am fully committed to the continued value creation of CLIG shares now and into the future." Tom Griffth, CEO, 16 September 2019. Edit: I note that there was confident buyer for 100,000 shares @4.25p just 20 minutes ago !
New institutional investor. APQ Global acquires 1,472,495 shares to take a 5.54% stake in CLIG.
There is a detailed report on City of London Investment Group recent AGM which can be found in our members area here: hTTps:// To access the report, you'll need to be a full member of ShareSoc, which is a not-for-profit organisation that supports individual shareholders and campaigns for shareholder rights. If you're not already a member you can join here: hxxps:// Once you've joined, you'll receive an invitation to register for our "members network" private social network, from where you'll be able to access the report (and reports on 100s of other meetings). If you're already a member and have any difficulty accessing the report, please do not hesitate to contact us here: hxxps://
Some forward planning by Barry Olliff! Transfer of shares.
Yes a 12+ month high @454p.
Up over 1%, Market makers still at it today.
Whoops! ;-)
New report from Hardman Summary: City of London has announced a trading update for 1Q. Weak markets were largely offset by inflows and outperformance in the Emerging Markets strategy, meaning FUM finished the quarter at $5.34bn, down $61m from the June figure of $5.39bn. The main beneficiary of inflows was the Developed Markets strategy, which received a net $142m, and assets rose 16.5% to $849m. In the Emerging Markets strategy, outperformance came from positive NAV performances and narrowing discounts. The Developed Markets strategy was impacted by European and UK weakness, while Frontier Markets saw an impact from exposure to Argentina. Operations: The increased FUM in the diversifying strategies continue to affect the revenue margin, which slipped to 75bps. This, together with weak markets, weighed a little on revenues and, with costs in line with expectations, the expected post-tax profit of 2.4m for 1Q 20 is a little behind our forecast. Board: From 1 January 2020, Carlos Yuste, Head of Business Development, will re-join the board as an Executive Director. He was previously on the board from 2006 until 2015. Valuation: The 2020E P/E of 10.6x is at a significant discount to the peer group. The underlying 2020E yield of 6.2% is attractive, in our view, and should, at the very least, provide support for the shares in the current markets. Risks: Although emerging markets can be volatile, City of London has proved to be more robust than some other EM fund managers, aided by its good performance and strong client servicing. Further EM volatility could raise the risk of such outflows, although increasing diversification is also mitigating this. Investment summary: Having shown robust performance in challenging market conditions, City of London is now reaping the benefits in a more supportive environment. The valuation remains reasonable. FY17 and FY18 both saw dividend increases and, unless there is significant market disruption, more should follow in the next few years. Full Report: hTTps://
A flat 27 p div is a falling div in real terms. Of course 6%+ yield is much higher than gilts, but that is the comparison that a flat div requires.
Zeus; Ahead of its AGM on 21 October, CLIG has released a 1Q trading update which reveals: § Funds under management (“FuM”) on 30 September 2019 of US$5.3bn (£4.3bn) compared to US$5.4bn (£4.3bn) on 30 June 2019, with negative market movements offset by good investment performance and net inflows. § US$140m net inflows in the 3-month period: $12m outflow from Emerging Market strategy funds; $10m inflow to Opportunistic Value strategy funds; and $142m inflow to Developed strategy funds. § Investment management performance was ahead of benchmark over the quarter: in Emerging Markets NAV performance was positive and discounts narrowed. § Group revenue continues to accrue at c. 75 basis points net of commissions and current run-rate operating profit was c. £1.6m. § 1Q post-tax profit was c. £2.4m (1Q19: £2.2m). § 18p per share final dividend, subject to approval at the AGM on 21 October, will be paid on 29 October. Zeus View. CLIG’s US$140m of net flows and good relative performance are encouraging. The month end FUM is as disclosed on the CLIG website. CLIG’s 1Q operating profit and PAT are consistent with previous guidance. We make no changes to our forecasts. We note that: § CLIG’s Diversification strategies now contribute 24.0% of group FuM (30 June 2019: 21.7%). § CLIG’s Developed strategy FuM rose by 16.5% (or US$120m) in the 3 months to US$849m, in difficult markets, as it benefited from US$142m of net inflows. § The shareholder value created by diversification is becoming apparent. Valuation: CLIG shares go ex 18p DPS on Thursday 10 October. With its strong balance sheet and 1Q reported PAT, investors should be confident in prospects of a 27p DPS this year. On a 6.0% yield, CLIG shares would trade at 450p.
I susepct clients are just switching out of the EM strategy into the DM strategies, which have lower fees. I don't think they're actually winning new clients, which is my main concern with this company,although it's a good solid performer.
The net inflows in Developed look encouraging. One of the advantages of holding a piece of illiquid stuff like CLIG is that the price doesn't appear to move with the market. Or rather, the movement is hidden within the dealing spread. I shall look forward to my dividend.
FUM flat but Q1 post-tax profits up circa 9%. City of London, announces that as at 30th September 2019, FuM were US$5.3 billion (£4.3 billion). This compares with US$5.4 billion (£4.3 billion) at the Company's year-end on 30th June 2019. Funds under Management excludes seed investments IM Performance IM performance was ahead of the benchmark over the quarter. Specifically, in the Emerging Market strategy NAV performances were positive and discounts narrowed marginally. In the Developed strategy relative returns were impacted by weak NAV performance from European and UK securities. In the Frontier strategy performance was negative due to exposure to Argentina. There were continued flows into the Developed and Opportunistic Value strategies totaling $152 million, while flows were negative in the Emerging strategy and neutral in the Frontier strategy. Operations The Group's income currently accrues at a weighted average rate of approximately 75 basis points of FuM, net of third party commissions. "Fixed" costs are c. £1.1m per month, and accordingly the current run-rate for operating profit, before profit-share of 30% and an estimated EIP charge of 5%, is approximately £1.6m per month based upon current FuM and a US$/£ exchange rate of US$1.23 to £1 as at 30th September 2019. The Group estimates that the post-tax profit for the first three months of the year will be approximately £2.4m (2018: £2.2m). Dividends The final dividend of 18p per share, subject to approval at the AGM on 21st October 2019, will be paid on the 29th October 2019, bringing the total dividend for the financial year 2018-19 to 40.5p, including the special dividend of 13.5p paid in March (2017-18: 27p special dividend : nil).
Cannacord Genuity reduced their stake by 37% from 8% to 5% over the past few weeks. However, the shareprice has not fallen during this period so there were obviously some willing buyers available who were prepared to pick up the stock. If it was an existing institutional holder then we may see another RNS in due course reporting an increased position.
CANACCORD GENUITY GROUP 7.9198% ----> 4.9763%.
Eggs, like topvest I hold shares in both CLIG and CTY. CLIG is one of my larger holdings so I don't want to put any more into it at present. CTY is just a handy place to stick spare cash in default of any more exciting option presenting itself. I neither feel 'better' nor 'worse' by holding one or the other or both. My misunderstanding may have been that when you wrote you 'felt much better having 'your funds' in this one' it seemed as if you had to make a binary choice about having your funds in this company or in another. There is no 'fuss' about CTY. It's just a widely-held investment trust. Plenty of press comment about it because there are plenty of hacks who write articles, indeed whole magazines about investment trusts. CLIG is a small well-managed company working in a unexciting sector. Most companies attract press attention either because of their size or because something is going/has gone wrong. CLIG just gets on quietly and competently with its business and is thus of little interest to the press.
I hold both so happy to have a conversation on either. They are both excellent.
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