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 | |
---|---|---|---|---|---|---|---|---|---|---|
-1.00 | -0.32% | 315.00 | 307.00 | 323.00 | 315.00 | 315.00 | 315.00 | 16,997 | 13:47:28 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 58.48M | 14.74M | 0.2908 | 10.83 | 159.64M |
TIDMCLIG
RNS Number : 2678W
City of London Investment Group PLC
16 April 2019
City of London Investment Group PLC
16 April 2019
CITY OF LONDON INVESTMENT GROUP PLC
("City of London", "the Group" or "the Company")
INTERIM MANAGEMENT STATEMENT
QUARTERLY FUNDS UNDER MANAGEMENT ("FUM") UPDATE
City of London (LSE: CLIG), a leading specialist asset management group offering a range of institutional products investing in closed-end funds, announces that as at 31 March 2019, FuM were US$5.3 billion (GBP4.1 billion). This compares with US$4.6 billion (GBP3.6 billion) at the Company's half-year on 31 December 2018. A breakdown by strategy follows:
FuM ($mn) Strategy Index Mar-19 Dec-18 % Net % (estimate) inc/dec Flows inc/dec EM 4,180 3,732 12% 45 MSCI EM 10% DEV 660 495 33% 101 MSCI ACWI 12% Frontier 201 197 2% - MSCI Frontier 7% Opportunistic ACWI/Barclays Value 227 199 14% 7 Global Agg 7% ------ 5,268 4,623 153 ---------------- ------ ------- -------- ------ --------------- --------
The Emerging Market, Developed and Opportunistic Value Strategies outperformed due to narrowing discounts and to a lesser extent, positive NAV performance. The Frontier Strategy underperformed largely due to unfavourable NAV performance.
During the period under review, the Developed and EM strategies recorded net inflows of US$101 million and US$45 million, respectively. Net flows in the Opportunistic Value and Frontier strategies were essentially flat.
With regard to business development, the Group continues to maintain an active pipeline across all of its major CEF offerings, with increased interest continuing to be seen in the non-Emerging Market CEF strategies (i.e. Developed, Opportunistic Value).
Operations
The Group's income currently accrues at a weighted average rate of approximately 76 basis points of FuM, net of third party commissions. "Fixed" costs are cGBP1.1 million per month, and accordingly the current run-rate for operating profit, before profit-share of 30% and an estimated EIP charge of 5%, is approximately GBP1.5 million per month based upon current FuM and a US$/GBP exchange rate of US$1.3 to GBP1 as at 31 March 2019.
Dividends
An interim dividend of 9 pence per share plus a special dividend of 13.5 pence per share was paid on 22 March 2019. The Board will announce the final dividend on Tuesday 16 July 2019 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
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.
END
TSTZMGMDRKVGLZM
(END) Dow Jones Newswires
April 16, 2019 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