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CLIG City Of London Investment Group Plc

320.00
-2.00 (-0.62%)
Last Updated: 08:41:02
Delayed by 15 minutes
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
  -2.00 -0.62% 320.00 61,630 08:41:02
Bid Price Offer Price High Price Low Price Open Price
317.00 320.00 325.00 320.00 325.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 58.48M 14.74M 0.2908 11.18 164.71M
Last Trade Time Trade Type Trade Size Trade Price Currency
08:35:48 O 933 318.745 GBX

City Of London Investment (CLIG) Latest News

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City Of London Investment Forums and Chat

Date Time Title Posts
14/3/202418:05City of London Investments - a good recovery play !3,299
28/9/201709:24Emerging 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
08:35:48318.759332,973.89O
08:34:44319.253198.97O
08:33:19316.935,50017,431.15O
08:32:46321.0039.63O
08:32:25320.251,5504,963.88O

City Of London Investment (CLIG) Top Chat Posts

Top Posts
Posted at 19/3/2024 08:20 by City Of London Investment Daily Update
City Of London Investment Group Plc is listed in the Finance Services sector of the London Stock Exchange with ticker CLIG. The last closing price for City Of London Investment was 322p.
City Of London Investment currently has 50,679,095 shares in issue. The market capitalisation of City Of London Investment is £163,186,686.
City Of London Investment has a price to earnings ratio (PE ratio) of 11.07.
This morning CLIG shares opened at 325p
Posted at 14/3/2024 16:19 by masurenguy
INTERIM DIVIDEND

The dividend of 11p per share (equivalent to 14.1 cents per share) will be paid on 28 March 2024.
Posted at 23/2/2024 07:00 by skinny
HALF YEAR SUMMARY



- Funds under Management (FuM) of $9.6 billion at 31st December 2023. This compares with $9.4 billion at the beginning of this financial year on 1st July 2023 and $9.2 billion at 31st December 2022

- FuM at 31st January 2024 of $9.5 billion

- Net fee income representing the Group's management fees on FuM was $32.6 million (31st December 2022: $31.9 million)

- Underlying profit before tax* was $13.3 million (31st December 2022: $13.6 million). Profit before tax was $11.1 million (31st December 2022: $11.0 million)

- Maintained interim dividend of 11p per share (31st December 2022: 11p) payable on 28th March 2024 to shareholders on the register on 1st March 2024
Posted at 31/1/2024 12:49 by masurenguy
SIX MONTHS TO 31 DECEMBER 2023: TRADING UPDATE AND DIVIDEND DECLARATION

City of London (CLIG) announces that on a consolidated basis, as at 31 Dec 2023, FuM were US$9.6bn. This compares with US$9.4bn at the Group's year end on 30 June 2023. A breakdown by strategy:

FuM ($m)
Dec-23: Jun-23
EM 3,578: 3,580
KIM 3,618: 3,520
INTL 2,004: 1,983
OV 278: 244
Other* 98: 97
Total 9,576: 9,424: +1.6%

IM Performance

Relative investment performance of the Group's strategies was mainly positive over the period, with OV and Fixed Income strategies outperforming, International Equity neutral and EM slightly negative. Significant CEF discount widening through late 2023 was partly reversed in Q4 which helped relative performance into year-end while NAV performance was positive. Over the six-month period, there were net outflows of circa US$294m across the Group's strategies, led by EM redemptions at CLIM and required minimum distributions for KIM clients at year end. Marketing and sales activity has picked up significantly in January as clients and prospects review their investment allocations. We are focused on new mandates in a number of the Group's asset classes with very good long-term performance as CEF discounts are at compelling levels and there is ample capacity.

Operations

The Group's income currently accrues at a weighted average rate of approximately 70 basis points, net of third party commissions. "Fixed" costs are c. US$2.3m per month, and accordingly the current run-rate for operating profit before profit-share is approximately US$3.2m per month based upon current FuM. The Group has proactively undertaken cost reductions as part of normal operations reflecting the current market environment. Based on actions initiated to date, savings of c. US$2.5m of costs per annum will be fully realised in the next financial year.

The Group estimates the unaudited profit before amortisation and taxation for the six months ended 31 December 2023 to be approximately US$13.9m (six months ended 31 December 2022: US$13.8m, restated in USD based on average exchange rate). Inclusive of our regulatory and statutory capital requirements, cash and cash equivalents stood at US$28.8m at the end of the calendar year (US$28.6m as at 30 June 2023, restated in USD based on closing exchange rate), in addition to the seed investments of US$2.4m. Our cash reserves will allow us to continue managing the business conservatively through volatile markets while following our dividend policy for our shareholders. The Company is currently in a close period which will end with the publication of results for the six months ended 31 December 2023 on 23 February 2024.

Dividend

The Board declares an interim dividend of 11p per share, which will be paid on 28 March 2024 to shareholders registered at the close of business on 1 March 2024 (2022: 11p).

The Board confirms the following interim dividend timetable:

-- ex-dividend date: 29 February 2024
-- dividend record date: 1 March 2024
-- DRIP election date/ deadline 8 March 2024
-- announcement of USD dividend 14 March 2024
-- dividend payment date: 28 March 2024
Posted at 29/1/2024 07:11 by masurenguy
Investor sentiment improves as stock rises 15%

After last week's 15% share price gain to £3.69, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Capital Markets industry in the UK. Total returns to shareholders of 1.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at £4.71 per share.
Posted at 22/1/2024 07:14 by masurenguy
6 MONTHS TO 31 DEC 2023 TRADING UPDATE AND DIVIDEND DECLARATION

City of London (LSE: CLIG) announces that on a consolidated basis, as at 31 December 2023, FuM were US$9.6bn. This compares with US$9.4bn at the Group's year end on 30 June 2023. Relative investment performance of the Group's strategies was mainly positive over the period, with OV and Fixed Income strategies outperforming, International Equity neutral and EM slightly negative. The Group estimates the unaudited profit before amortisation and taxation for the six months ended 31 December 2023 to be approximately US$13.9m (six months ended 31 December 2022: US$13.8m, restated in USD based on average exchange rate).

The Board declares an interim dividend of 11p per share, which will be paid on 28 March 2024 to shareholders registered at the close of business on 1 March 2024 (2022: 11 pence).
Posted at 09/1/2024 08:16 by dudishes
Good to see it turning a corner?

During the final quarter of 2023, I closed all positions (long/short).

Of 14 positions, various sections/outfits, I had 13 wins.

My only loss was yes, you guessed it, CLIG to the tune of £3K3.

Follow your research not BB noise.

ie WIX (some controversy), but who that uses Wicks cares?

In and out, shake it all about! Closed long for £75024.

There's more! VSVS, another quiet one. In/out +£29516.

I'm a spread better not a divi chaser and in that vein, I believe long termers here

have faired well, good luck to them.

I hope CLIG has turned a corner, not followed.

Good luck.

cheers
Posted at 06/9/2023 07:20 by masurenguy
City of London Investment Group (CLIG)
Share Price: £3.93
1 Year: -6.3%
90 Days: -11.0%
7 Day: 0.98%

Now 21% undervalued after recent price drop. The fair value is estimated to be UK£5.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years, while earnings per share has been flat. Revenue is forecast to decline by 3.8% in 2 years. Earnings is forecast to decline by 9.1% in the next 2 years.

SIMPLY WALL ST: 6 Sept 2023
Posted at 25/7/2023 08:48 by creme de menthe
Trading and share price is following a similar pattern to other asset managers. Clig has done well to maintain AuM but costs increasing. Look at PMI and POLR and others all suffering similarly. I have held here for at least 15 years and share price is down to my original buy price, yet I have had my money back with dividends. Anyway, I want to see what they can do to reduce costs and increase margin before making any decision about selling. In the meantime another 22p is nice whilst waiting.
Posted at 08/5/2023 11:27 by eggbaconandbubble
I'm not sure if 'care' is tbe right word but I would like to know. Anyone?

FYI Dishes I'm trying to work out what possibility there is of a CLIG takeover. The divi is respectable but I doubt the share price is going anywhere fast.

I've looked at the merger announcements which was June 2020 when CLIG share price circa 325p but it's not very clear - to me anyhow.
Posted at 08/3/2022 16:30 by james188
I agree with that, Monty. Just to observe that 2 years ago, we were just starting to realise the full impact of COVID and the Karpus deal had not been announced. In any event, the CLIG share price has always bounced around and trading is often pretty thin. You just have to be patient when adding (or selling).
City Of London Investment share price data is direct from the London Stock Exchange

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