We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 | |
---|---|---|---|---|---|---|---|---|---|---|
-6.00 | -1.86% | 316.00 | 314.00 | 324.00 | 316.00 | 316.00 | 316.00 | 20,871 | 10:54:56 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 58.48M | 14.74M | 0.2908 | 10.87 | 160.15M |
TIDMCLIG
RNS Number : 9601V
City of London Investment Group PLC
20 April 2021
City of London Investment Group PLC
20 April 2021
CITY OF LONDON INVESTMENT GROUP PLC
("City of London", "the Group" or "the Company")
FUNDS UNDER MANAGEMENT AS AT 31 March 2021,
TRADING UPDATE
City of London (LSE: CLIG), a leading specialist asset management group offering a range of institutional and retail products investing primarily in closed-end funds, announces that on a consolidated basis, as at 31 March 2021, FuM were US$11.1 billion (GBP8.0 billion). This compares with US$11.0 billion (GBP8.0 billion) as at 31 December 2020. A breakdown by strategy follows:
FuM ($ million) Strategy Index Mar-21 Dec-20 % Net % (estimate) inc/dec Flows inc/dec EM 5,250 5,196 1% (127) MSCI EM Net TR 2.3% KIM 3,815 3,749 2% (7) Not applicable INTL 1,734 1,700 2% (57) MSCI ACWI ex US 3.5% ACWI/Barclays Global OV 233 306 -24% (85) Agg 0.0% Other* 25 27 -6% (2) 11,057 10,978 (278) ----------- ------- ------
* includes Frontier, REIT and seed investments
Strong investment performance across CLIG's investment strategies was largely a result of good NAV performance.
During the period under review, CLIG flows were negative as clients continued to rebalance following significant equity market gains, with net outflows of circa US$278 million across the Group's strategies.
With regard to business development, the Group continues to maintain an active pipeline across all of its major products.
Operations
Despite the ongoing restrictions imposed by the COVID -19 pandemic, important progress has been achieved in harmonising the infrastructure of both operating subsidiaries, CLIM and KIM, in the first two quarters of the post-merger period, particularly in the finance and IT areas.
The Group's income currently accrues at a weighted average rate of approximately 73 basis points of CLIM's FuM and at approximately 77 basis points of KIM's FuM, net of third party commissions. "Fixed" costs are c.GBP1.6 million per month, and accordingly the run-rate for operating profit, before profit-share is approximately GBP3.3 million per month based upon current FuM and a US$/GBP exchange rate of US$1.3783 to GBP1 as at 31 March 2021.
Dividend
An interim dividend of 11 pence per share was paid on 19 March 2021. The Board will announce the final dividend on Tuesday 13 July 2021 in its pre-close trading update.
For further information, please visit http://www.citlon.co.uk/ or contact:
Tom Griffith, CEO
City of London Investment Group PLC
Tel: 001-610-380-0435
Martin Green/Pippa Hamnett
Zeus Capital Limited
Financial Adviser & Broker
Tel: +44 (0)20 3829 5000
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
TSTGPUGGCUPGPGB
(END) Dow Jones Newswires
April 20, 2021 02:00 ET (06:00 GMT)
1 Year City Of London Investment Chart |
1 Month City Of London Investment Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions