Business
PRE-CLOSE TRADING UPDATE
PRE-CLOSE TRADING UPDATE.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n\nCity of London Investment Group PLC\n25 July 2024\n \nThe information contained within this announcement is deemed by the Group to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.\n \nCITY OF LONDON INVESTMENT GROUP PLC\n(\"City of London\" or \"the Group\" or \"the Company\" or \"CLIG\")\nPRE-CLOSE TRADING UPDATE for the year to 30 June 2024\n \nCity of London (LSE: CLIG), a leading specialist asset management group offering a range of institutional and retail products investing primarily in closed-end funds (\"CEFs\"), provides a pre-close trading update for its financial year ended 30 June 2024. The numbers that follow are unaudited.\n \nFunds under Management (FuM) were $10.2 billion at 30 June 2024, an increase of 8.7% as compared to $9.4 billion at 30 June 2023. A breakdown by strategy follows:\n \n\n\n\n\n\n\n\n\n\n\nFuM ($ million)\n\n\n\n\n\n\n\n\n\n\n\n\n\nJun-23\nActual\n\n\nNet flows\n\n\nMarket & investment performance\n\n\nJun-24\n(estimate)\n \n\n\n\n\n\n\n\nEM\n\n\n\n\n\n3,580\n\n\n(424)\n\n\n413\n\n\n 3,568\n\n\n\n\n\n\n\nKIM\n\n\n\n\n\n3,520\n\n\n(4)\n\n\n408\n\n\n 3,924\n\n\n\n\n\n\n\nINTL\n\n\n\n\n\n1,983\n\n\n153\n\n\n257\n\n\n 2,394\n\n\n\n\n\n\n\nOV\n\n\n\n\n\n244\n\n\n(33)\n\n\n40\n\n\n 251\n\n\n\n\n\n\n\nOther*\n\n\n\n\n\n97\n\n\n(12)\n\n\n19\n\n\n 104\n\n\n\n\n\n\n\n\n\n\n\n\n\n9,424\n\n\n(320)\n\n\n1,137\n\n\n 10,241\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n* includes Frontier and seed investments\nFunds under Management figures are rounded\n \nIM Performance\n \nInvestment performance was ahead of the benchmark for the majority of the Group's strategies during the financial year. CLIM's International Equity, Opportunistic Value and Frontier Markets outperformed, while Emerging Markets (EM) equity lagged its index over the period. KIM's fixed income strategies, international equity, conservative balanced and SPA...