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LONDON (Alliance News) - City of London Investment Group PLC on Wednesday reported an increase in funds under management in its third quarter, though performance in Emerging Markets was disappointing.
Assets under management at the end of March were USD5.4 billion, compared to USD5.3 billion at the end of December.
In Emerging Markets, net asset value fell 1% to USD4.63 billion, with net outflows USD38.0 million. However, in Developed markets, assets under management rose 28% to USD433.0 million, with net inflows of USD102.0 million.
In Global Tactical Asset Allocation, assets under management rose 8% to USD150.0 million and net inflows were USD13.0 million, while in Frontier markets, assets under management increased 5% to USD202. million.
Shares were up 1.1% Wednesday at 445.00 pence each.
