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 Shares Traded Last Trade
  0.00 0.0% 401.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
392.00 410.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 33.26 9.41 30.30 13.2 107
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 401.00 GBX

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Date Time Title Posts
18/9/202014:22City of London Investments - a good recovery play !2,572
28/9/201710:24Emerging Mkt Play - City of London96

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City Of London Investment (CLIG) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-09-21 15:40:25402.005,00020,100.00O
2020-09-21 15:26:15406.0172292.33O
2020-09-21 15:18:50410.002082.00O
2020-09-21 14:50:14401.661,0004,016.61O
2020-09-21 14:45:19391.001454.74O
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City Of London Investment (CLIG) Top Chat Posts

City Of London Investment Daily Update: City Of London Investment Group Plc is listed in the General Financial sector of the London Stock Exchange with ticker CLIG. The last closing price for City Of London Investment was 401p.
City Of London Investment Group Plc has a 4 week average price of 376p and a 12 week average price of 376p.
The 1 year high share price is 478p while the 1 year low share price is currently 264p.
There are currently 26,570,707 shares in issue and the average daily traded volume is 35,043 shares. The market capitalisation of City Of London Investment Group Plc is £106,548,535.07.
robsy2: OK so the final divi will be at least 18p. That makes 28p I think for the year and probably more next year.That is enough to support the share price at 400p.Job done.
rcturner2: Skinny, nice chart, are you able to put the share price on top of it?
stun12: FUM as at the end of May was just shy of US$5bn. The high (Dec-19) was a shade over US$6bn with the share price at 440p at the end of the month. Though it's clearly not a linear relationship, FUM down 17% and CLIG down 28% doesn't look right to me. Gradually buying, though I'm not sure if I trust the FTSE up here...
homeboy: I'd expect AUM's to decline and big sell offs in the share price still to come.
masurenguy: 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 !
masurenguy: Forward price targets established by Barry Olliff, in order to facilitate the process of winding down his shareholding from 7.6% to 1.9%, as he enters retirement at the end of December but continues some involvement in an advisory capacity during the next 2 years. "Barry Olliff intended CLIG share sales In keeping with Barry's previous statements, I would like to remind shareholders of his intentions regarding share sales. 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, etc. 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."
pyufak: the bid offer is so wide on this one, even a small number of shares trading at the close causing some odd swings in p&l. Personally I'd prefer to see excess cash placed into share buybacks a la US style rather than special dividends. Backstops the stock in times of stress and just think a tailwind for the share price generates more of a buzz for all stakeholders unlikely a dividend - not that it should matter in economic terms but just my 2p. Couple of 10k block buys this month sub-410 from the company - I think it will take a lot for us to go below here as they're drawing a line in the sand. 410.5p bid anyone ;-)
davebowler: 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).
masurenguy: Graham Neary's view: "This investor in closed-end funds has seen a net outflow of $42 million over six months, and negative performance has contributed to a total reduction in funds under management (FuM) of some $480 million. Key points *FuM is $4.6bn at Dec 2018, versus $5.1bn at June 2018. *The primary strategy, Emerging Markets, outperformed, but the newer strategies all underperformed. *A positive note, CLIG has been notification of inflows worth $125m to be funded over Q3 *The dividend yield is a stonking 8%. I would think that prospects for long-term growth are probably still good - emerging market asset managers enjoy some nice tailwinds. Short-term developments have been a bit disappointing, and the share price reaction has left the stock with a ValueRank of 98. The Stocko system ranks this as a Super Stock. So this is another fund management company that I am keenly interested in."
tmfmayn: MRF "Also how on earth can this be yielding 6.4% ?" A fair question to ask. If you look in the 2017 annual report, on page 18 there is a chart titled 'Total in flows - outflows'. The yellow boxes show the amount of client money added/lost during each financial year. You will see that the yellow boxes are quite small, and suggest CLIG has difficulty winning new mandates. The market I guess has applied a low valuation to CLIG because of the lack of fresh mandate wins. It is not clear how CLIG will ever win significant new mandates. CLIG management has said there is a 'capacity' to its Emerging Market FUM of c$5bn, and so growth beyond that will involve the group's other strategies, which represent only 13% of total FUM. Recent profit/FUM growth has been based almost entirely on favourable FX and market movements. And yet the staff now take a greater share of earnings through the EIP. It will take notable FUM wins before the share price enjoys a re-rating. In the meantime, shareholders receive the chunky dividend and wonder what happens when Barry retires.
City Of London Investment share price data is direct from the London Stock Exchange
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