REG - City of Lon Inv Grp - SIX MONTHS TO 31 DECEMBER 2024 TRADING UPDATE

City of London InvestmentAnnouncement

20/01/2025 07:00

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RNS Number : 8431T  City of London Investment Group PLC  20 January 2025

City of London Investment Group PLC

20 January 2025



 CITY OF LONDON INVESTMENT GROUP PLC

("City of London" or "the Group" or "the Company" or "CLIG")

SIX MONTHS TO 31 DECEMBER 2024 TRADING UPDATE

 

City of London (LSE: CLIG), a leading specialist asset management group
offering a range of institutional and retail products investing primarily in
closed-end funds, provides a trading update for its six months ended 31
December 2024. The numbers that follow are unaudited.

 

Funds under Management (FuM) were $9.9 billion at 31 December 2024, a decrease
of 2.9% as compared to $10.2 billion at 30 June 2024. A breakdown by strategy
follows:

 

             FuM ($ million)
             Jun-24                  Net flows  Market & investment performance      Dec-24

             Actual                                                                  (estimate)

 EM                 3,568            (157)      60                                   3,471
 KIM                3,924            (138)      160                                  3,947
 INTL               2,394            (332)      30                                   2,091
 OV                    251           23         12                                   286
 Other*                104           40         7                                    151
             10,241                  (564)      269                                  9,946

* Includes Frontier and alternatives

 

IM Performance

 

Investment performance for the rolling six months ending 31 December 2024 and
calendar year 2024 were both ahead of benchmarks for the majority of CLIM
& KIM core strategies. Strategy returns were in the first or second
quartile vs peers over the same periods.

 

Flows

 

Strong market returns over the six months led to client rebalancing, asset
allocation changes, and included a large client drawing down cash management
capital for acquisitions. Net investment outflows were $564 million for the
Group over the period, led by EM, International Equity and KIM strategies,
while OV and alternatives had net inflows of $63 million.

 

 

For further information, please visit http://www.clig.co.uk/
(http://www.clig.co.uk/) or contact:

 

Tom Griffith, CEO

City of London Investment Group PLC

Tel: 001-610-380-0435

 

Martin Green, James Hornigold

Zeus Capital Limited

Financial Adviser & Broker

Tel: +44 (0)20 3829 5000

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