City of Lon Inv Grp - Trading Update for the Quarter Ended 30/09/26
City of London Investment Group PLC
19 October 2026
CITY OF LONDON INVESTMENT GROUP PLC
(the Group or the Company or CLIG)
TRADING UPDATE FOR THE QUARTER ENDED 30 SEPTEMBER 2026
City of London Investment Group PLC (LSE: CLIG) is an active, alpha-driven global asset management group with more than three decades of experience. The Group manages assets on behalf of sophisticated institutional and wealth management clients worldwide across a diverse range of asset classes and strategies. CLIG provides a trading update for its quarter ended 30 September 2026 below. The numbers that follow are unaudited.
Flows & Performance
Group Funds under Management (FuM) at 30 September 2026 were $11.5 billion. The Group continues to benefit from a diversified product offering, strong long-term investment capabilities, and ongoing client engagement across both equity and fixed income strategies.
Sentiment for our asset classes was muted for the quarter, however, investment performance remained strong over the long term. Net outflows were primarily driven by client rebalancing and portfolio allocation decisions across the City of London Investment Management (CLIM) business following periods of strong relative and absolute investment performance. These withdrawals were concentrated in Emerging Markets, International Equity and Other.
Investment performance and client outcomes remain our main priorities. Over the past six months, we have enhanced collaboration across the Group and connected our investment and client-facing teams more closely. We have increased engagement with clients, consultants and industry stakeholders to better understand their evolving needs and where our expertise can add the most value.
During the quarter, the Group recorded gross inflows of $87 million and outflows of $754 million, resulting in net outflows of $667 million. Market and investment performance reduced FuM by a further $127 million, reflecting volatile market conditions during the period.
CLIM recorded gross inflows of $47 million during the quarter, led by International Equity and Emerging Markets, partially offsetting outflows of $650 million. As a result, CLIM FuM declined from $8.1 billion to $7.4 billion at quarter end. Karpus Investment Management (KIM) generated gross inflows of $40 million, supported by Taxable Fixed Income, Growth Balanced and Tax-Sensitive Fixed Income. Net outflows of $64 million were primarily attributable to client asset allocation decisions within Growth Balanced and Conservative Balanced strategies. Combined with modest negative market performance, KIM FuM declined from $4.3 billion to $4.1 billion.
Despite volatile market conditions, the group believes that it retains a strong investment and financial position. Our success continues to be built on investment outcomes for clients, delivered by long-tenured investment teams applying disciplined, repeatable processes across market cycles.
We are also focused on strengthening market recognition of our investment capabilities across KIM (fixed income) and CLIM (equities). To build on this, we have instituted sales and marketing initiatives, including expanded business development and consultant relations coverage, a more active thought-leadership programme, and refreshed marketing that communicates our investment insights more clearly. Together, these efforts are designed to increase awareness of our capabilities and create a more coordinated client experience, while preserving the distinct strengths and identities of each business.
With a strong financial foundation, experienced investment teams and a clear strategic direction, we believe that we are well positioned to continue to deepen existing relationships, further broaden our reach with prospective clients, and support the long-term growth of the Group.
FuM ($ million)
Jun-26 Actual
Inflows
Outflows
Net Flows
Market & investment performance
Sep-26 (estimated FuM)
CLIM
Emerging Markets
4,472
16
(142)
(126)
(81)
4,265
International Equity
2,859
31
(164)
(133)
31
2,757
Opportunistic Value
324
-
(35)
(35)
(2)
287
Listed Private Equity
204
-
(97)
(97)
7
114
Other*
193
-
(212)
(212)
19
-
Total CLIM
8,052
47
(650)
(603)
(26)
7,423
KIM
Growth Balanced
1,537
13
(45)
(32)
(27)
1,478
Conservative Balanced
1,260
6
(30)
(24)
(42)
1,194
Tax-Sensitive Fixed Income
664
7
(9)
(2)
(21)
641
Taxable Fixed Income
585
12
(12)
-
(18)
567
Cash Management
117
1
(1)
-
1
118
Equities
95
1
(7)
(6)
6
95
Total KIM
4,258
40
(104)
(64)
(101)
4,093
Total CLIG
12,310
87
(754)
(667)
(127)
11,516
* Includes Frontier and alternatives
Funds under Management figures are rounded
Dividend
On 15 September 2026 the Company announced a final dividend for the year ended 30 June 2026 of 23p per share. Subject to approval at the AGM on 26 October 2026, this will be paid on 5 November 2026 to shareholders on the register as at 25 September 2026. This will bring the total dividend for FY 2026 to 34p (FY 2025: 33p).
For further information, please visit https://www.clig.com/ or contact:
Cooper Abbott, CEO
City of London Investment Group PLC
Tel: +1 610 380 2110
Charles Leigh-Pemberton, James Todd, Patrick Weaver
Singer Capital Markets
Financial Adviser & Broker
Tel: +44 (0)20 7496 3000
This announcement contains forward-looking statements, which are based on current expectations and assumptions and are subject to risks and uncertainties, many of which are outside the Group’s control. Actual results may differ materially from those expressed or implied. Forward-looking statements speak only as of the date of this announcement and, except as required by applicable law or regulation, the Company undertakes no obligation to update them. Nothing in this announcement should be construed as a profit forecast.
Past performance is no guarantee of future results.
The information contained in this document is intended for information purposes only. This document does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will any sale of a security occur in any jurisdiction where such an offer, solicitation or sale would be unlawful.
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