Business
HALF YEAR RESULTS AND SENIOR MANAGEMENT CHANGES
HALF YEAR RESULTS AND SENIOR MANAGEMENT CHANGES.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0243P\n City of London Investment Group PLC\n 15 February 2021\n \n \n \n \n 15th February 2021\n \n \n \n \n \n CITY OF LONDON INVESTMENT GROUP PLC\n \n \n (\"City of London\", \"the Group\" or \"the Company\")\n \n \n \n \n \n HALF YEAR RESULTS TO 31ST DECEMBER 2020 AND SENIOR MANAGEMENT CHANGES\n \n \n \n \n \n City of London (LSE: CLIG) announces half year results for the six months to 31st December 2020. \n \n \n \n \n \n HALF YEAR SUMMARY \n \n \n \n \n \n \n \n \n \n -\n \n \n \n \n Funds under Management (FuM) of US$10.9 billion (£8.0 billion) at 31st December 2020 (post-merger). This compares with US$5.5 billion (£4.4 billion) at the beginning of this financial year on 1st July 2020 and US$6.0 billion (£4.5 billion) at 31st December 2019 (pre-merger).\n \n \n \n \n \n \n \n \n \n -\n \n \n \n \n FuM at 31st January 2021 of US$11.1 billion (£8.1 billion)\n \n \n \n \n \n \n \n \n \n -\n \n \n \n \n Net fee income representing the Group's management fees on FuM was £22.6 million (31st December 2019: £16.4 million) \n \n \n \n \n \n \n \n \n \n -\n \n \n \n \n Underlying profit before tax* was £11.2 million (31st December 2019: £6.2 million). Profit before tax was £8.8 million (31st December 2019: £6.3 million)\n \n \n \n \n \n \n \n \n \n -\n \n \n \n \n Increased interim dividend to 11p per share (31st December 2019: 10p) payable on 19th March 2021 to shareholders on the register on 5th March 2021\n \n \n \n \n \n \n \n \n \n *This is an Alternative Performance Measure (APM). Please refer to CEO statement for more details on APMs.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n For access to the full interim report, please follow the link below:\n \n \n \n \n \n \n \n http://www.rns-pdf.londonstockexchange.com/rns/0243P_1-2021-2-14.pdf\n \n \n \n \n \n \n This release includes forward-looking statements, which may differ from actual results. Any forward-looking statements are based on certain factors and assumptions, which may prove incorrect, and are subject to risks, uncertainties and assumptions relating to future events, the Group's operations, results of operations, growth strategy and liquidity\n .\n \n \n \n \n \n \n \n \n SENIOR MANAGEMENT CHANGES \n \n ...