City of London Investment Group PLC FUNDS UNDER MANAGEMENT AS AT 300921 TRADING UPDATE (0659P)
14 Octobre 2021 - 8:00AM
UK Regulatory
TIDMCLIG
RNS Number : 0659P
City of London Investment Group PLC
14 October 2021
RNS Number:
City of London Investment Group PLC
14 October 2021
CITY OF LONDON INVESTMENT GROUP PLC
("City of London", "the Group" or "the Company")
FUNDS UNDER MANAGEMENT AS AT 30 SEPTEMBER 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 30 September 2021, FuM were US$10.9
billion (GBP8.1 billion). This compares with US$11.4 billion
(GBP8.3 billion) as at 30 June 2021. A breakdown by strategy
follows:
FuM ($ million) Strategy Index
Sep-21 Jun-21 % Net %
(estimate) inc/dec Flows inc/dec
EM 4,937 5,393 (8%) (130) MSCI EM Net TR (8.1%)
KIM 3,890 3,919 (1%) 0 Not applicable
INTL 1,840 1,880 (2%) (34) MSCI ACWI ex US (3.0%)
ACWI/Barclays Global
OV 229 231 (1%) (3) Agg (0.9%)
Other* 22 26 (14%) (5)
10,918 11,449 (172)
----------- ------- ------
* includes Frontier, REIT and seed investments
Funds under Management figures are rounded
IM Performance
Solid performance across CLIG's investment strategies resulted
from positive country allocation and good NAV performance at the
underlying closed end funds. Discount effects were slightly
negative.
Over the period, there were net outflows of circa US$172 million
across the Group's strategies, primarily due to ongoing client
rebalancing in the emerging markets strategies after strong gains
last year.
Business development will focus on EM, International,
Opportunistic Value strategies, and KIM balanced mandates, where
additional capacity is now available for prospects.
Operations
The Group's income currently accrues at a weighted average rate
of approximately 73 basis points of CLIM's FuM and at approximately
76 basis points of KIM's FuM, net of third party commissions.
"Fixed" costs are c. GBP1.6 million per month, and accordingly the
current run-rate for operating profit, before profit-share is
approximately GBP3.3 million per month based upon current FuM and a
US$/GBP exchange rate of US$1.3474 to GBP1 as at 30 September
2021.
Dividends
The final dividend of 22 pence per share, subject to approval at
the AGM on 18 October 2021, will be paid on 29 October 2021,
bringing the total dividend for the financial year 2020-21 to 33
pence (2019-20: 30 pence).
For further information, please visit http://www.clig.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
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END
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