2 Dec 2013 07:00

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CITY OF LONDON INVESTMENT GROUP PLC
("City of London", "the Group" or "the Company")
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FUNDS UNDER MANAGEMENT AS AT 30 NOVEMBER 2013, TRADING UPDATE
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City of London (LSE: CLIG) announces that total funds under management (FuM) at the Group's half year end on 30 November 2013 were US$3.5 billion (£2.1 billion). This compares with US$3.9 billion (£2.4 billion) at 30 November 2012 and US$3.7 billion (£2.4 billion) at 31 May 2013.
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As previously announced, FuM on 30 September 2013 were US$3.4 billion (£2.1 billion). FuM increased by 3% over the period, which was in line with the increase in the MSCI Emerging Markets Index (MXEF) from 987 to 1018 over the same period.
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As of the end of November the monthly "run-rate" for operating profit, before profit-share of c. 30%, is approximately £0.8 million per month based upon current FuM. The Group estimates the unaudited profit before taxation for the six months ended 30 November 2013 to be approximately £3.3 million, which compares to £4.7 million for the equivalent period to 30 November 2012.
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The Company is currently in a close period which will end with the publication of results for the six months ended 30 November 2013 on 20 January 2014.
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For further information, please visit www.citlon.co.uk or contact:
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Barry Olliff (CEO) | |
City of London Investment Group PLC | |
Tel: 001 610 380 2911 | |
Martin Green | |
Canaccord Genuity Limited | |
Financial Adviser & Broker | |
Tel: +44 (0)20 7523 8000 |
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