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14 Apr 2016 12:38
Hardman & Co issues research report on City of London Investment Group (CLIG.L)
Q3 boosted by market recovery
City of London issued a trading statement for the FY third quarter. Funds under management have benefitted from the equity market recovery and finished the quarter at $3.9bn, a 3% rise over the figure at the end of 2015. Unfortunately this lagged the MSCI Emerging Markets Index rise of 6%. The main factor in this lag was underperformance, with discounts on the underlying Closed End Funds widening and an overweight exposure to small-cap companies within those funds. This follows a lengthy period of outperformance and annualised figures remain first or second quartile across all periods.
http://www.hardmanandco.com/docs/default-source/company-docs/city-of-london-investment-documents/14-04-16-q3-boosted-by-market-recovery
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