Last checked at 19 Oct 2015 07:00
19 October 2015
CITY OF LONDON INVESTMENT GROUP PLC
("City of London", "the Company" or "the Group")
AGM Trading Update
City of London (LSE: CLIG), a leading emerging markets asset management group, is holding its Annual General Meeting today and is issuing the following trading update.
Funds under management (FuM) as at 15th October 2015 were US$3.93 billion (£2.5 billion). This compares with US$3.6 billion (£2.4 billion) at the Company's quarter-end on 30th September 2015. In US dollar terms, this represents a rise of c9% which is in line with the rise in the MSCI Emerging Markets Index (US dollar based), over the same period.
As noted in the September 30th trading update, despite the recent market volatility, the Board is encouraged by the diversity in the current pipeline of potential mandates, with c$750 million spread across EM, Frontier, Developed and Tactical Asset Allocation asset classes. As a result the Company is hopeful that at least a net $250 million of additional FuM should be achievable over the next 6-9 months. Confirmed new mandate wins stand at $75 million as at October 15th.
Monthly updates of FuM are available on our website - www.citlon.co.uk
Investor afternoon
Shareholders and other interested parties are invited to attend our investor afternoon starting at 3pm on 19th October at the offices of Canaccord Genuity Limited, 88 Wood Street, London EC2V 7QR.
Presentations will include: Managing the P&L through a difficult market environment, Core values, EM CEF strategy, EM-What could go right?, Diversification CEF strategies and US marketing initiatives.
If you would like to attend then please email investorrelations@citlon.co.uk as spaces are limited.
For further information please visit www.citlon.co.uk or contact:
Barry Olliff (CEO)
City of London Investment Group PLC
Tel: 001 215 313 3774
Roger Lambert
Canaccord Genuity Limited
Financial Adviser & Broker
Tel: +44 (0)20 7523 8000